Apple Reports Highest Quarterly Revenue Ever

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  • Apple recorded all-time net income record of $22.2 billion and generated operating cash flow of $30.5 billion
  • The company’s board of directors has declared a cash dividend of $0.77 per share of the Company’s common stock

Apple has announced financial results for its fiscal 2020 first quarter ended December 28, 2019. The company posted quarterly revenue of $91.8 billion, an increase of nine percent from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $4.99, up 19 per cent, also an all-time record. International sales accounted for 61 per cent of the quarter’s revenue.

“We are thrilled to report Apple’s highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables,” said Tim Cook, Apple’s CEO.

Cash dividend of $0.77 per share

Apple’s board of directors has declared a cash dividend of $0.77 per share of the company’s common stock. The dividend is payable on February 13, 2020 to shareholders of record as of the close of business on February 10, 2020.

“Our very strong business performance drove an all-time net income record of $22.2 billion and generated operating cash flow of $30.5 billion. We also returned nearly $25 billion to shareholders during the quarter, including $20 billion in share repurchases and $3.5 billion in dividends and equivalents, as we maintain our target of reaching a net cash neutral position over time,” said Luca Maestri, Apple’s CFO.

“During the holiday quarter our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion. We see this as a powerful testament to the satisfaction, engagement and loyalty of our customers — and a great driver of our growth across the board,” added Cook.

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