Apple Q4 2019 earnings: iPhone revenue dips nearly 10%, but wearables come to the rescue<article>
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<p>With the all-important holiday quarter looming and the launch of the
Apple TV+ video-streaming service on tap for Friday, Apple on Wednesday firmly declared that it’s weathering the iPhone downturn just fine.</p><p>For its final fiscal quarter of 2019, Apple posted revenue of $64 billion, an increase of 2 percent from the year-ago quarter and representing the upper end of its guidance, and quarterly earnings per diluted share of $3.03, blowing away estimates.</p><p>The quarter ended September 28, so it includes a couple of weeks of iPhone 11 sales. Even so, iPhone sales were down roughly $3 billion, or nearly 10 percent over the same quarter last year. The same goes Macs sales, which were down about 5 percent. Apple CEO Tim Cook pointed out that the iPhone 11 is off to a “very good start” and noted that the revenue loss represented an uptick over the 15 percent loss it saw earlier in the year. Additionally, Apple said the iPhone active installed base grew to all-time highs in all geographical segments, suggesting people aren’t switching, but rather holding onto their older phones longer.</p><p class="jumpTag"><a href="/article/3449856/apple-q4-2019-earnings-iphone-revenue-wearables-ipad-macs.html#jump">To read this article in full, please click here[/url]</p></section></article>
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Apple Q4 2019 earnings: iPhone revenue dips nearly 10%, but wearables come to the rescue
