Apple Earnings: Stock Flies High After Record Quarter

Apple (NASDAQ:AAPL) earnings for the tech company’s fiscal first quarter of 2020 have shares heading higher after-hours on Tuesday. That’s thanks to its diluted per-share earnings of $4.99 on revenue of $91.82 billion. These are both well above Wall Street’s estimates of $4.55 per share and revenue of $88.50 billion.

Apple Earnings: AAPL Stock Climbs 1% Higher After Beating Q1 Estimates

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Now for a closer look at the most recent Apple earnings report.

  • Diluted earnings per share are up 19.38% from $4.18 during the same time last year.
  • Revenue comes in 8.91% higher than the $84.31 billion reported in the fiscal first quarter of 2019.
  • Operating income of $25.57 billion is a 9.51% climb YoY from $23.35 billion.
  • The Apple earnings report also includes net income of $22.24 billion.
  • This is an 11.37% increase over the company’s net income of $19.97 billion from the same period of the year prior.

Tim Cook, Chief Executive Officer of Apple, has this to say about the AAPL stock earnings.

“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. 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.”

The Apple earnings report also includes its guidance for fiscal Q2 2020. It is expecting revenue for the period to range from $63.00 billion to $67.00 billion. That will have it beating out Wall Street’s estimate of $62.45 billion during the quarter.

AAPL stock was up 1.38% after-hours Tuesday. The stock also closed out the day up 2.83%.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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