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Apple published its financial results for Q1 2019 on Tuesday. Revenue from the iPhone fell 15 percent year-on-year this holiday period, while the Services branch grew 19 percent to a record revenue of $10.9 billion.

Total quarterly sales amounted to $84.3 billion, a decrease of 5 percent compared to the same quarter last year. The net profit fell by only half a percent, to just under 20 billion dollars.

Sales outside the United States accounted for 62 percent of the total, but were lower in each international market than a year earlier. Apple states as a possible explanation that the U.S. dollar is relatively strong, which made the products more expensive in many parts of the world.

Less revenue from iPhone

The lesser numbers don’t come as a surprise. Earlier this month, Apple revised its quarterly revenue forecast from $89 to $93 billion to $84 billion. The reason given by the company was lower than expected sales of the iPhone, driven by challenging market conditions in China and fewer iPhone upgrades.

iPhone sales fell 15 percent year on year, from $61.1 to $51.98 billion. Apple no longer reports exactly how many copies were sold.

Apple omzet Q1 2019 per categorie

Services flourish

At the same time, the Services division grew by 19 percent to a record turnover of 10.9 billion dollars. The ‘Mac’ and ‘Wearables, Home and Accessories’ categories also made progress, 9 percent and 33 percent respectively. iPad sales grew by 17 percent.

“While it was disappointing to miss our sales guidelines, we manage Apple for the long term and this quarter’s results show that the underlying strength of our business is deep and broad,” said CEO Tim Cook.

Cook highlights that the total number of active Apple devices in the past quarter amounted to 1.4 billion. Another record. “That’s great proof of the satisfaction and loyalty of our customers and it drives our service activities to new records thanks to our large and fast-growing ecosystem.

For the second quarter, Apple expects sales to be between $55 and $59 billion. Analysts keep it at $58.99 billion.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.