author: Konrad Serafinski
iPhone Sales Dropping, but Apple has Reasons to be Satisfied
Apple boasted its financial results for the fourth quarter of 2019. The company recorded a record-breaking revenue despite the fact that iPhone sales continue to drop. Services and iPads are on the rise.
Apple boasted its financial results for the fourth quarter of 2019. If you thought that the giant would trip due to the latest unsuccessful actions, then you are mistaken. During the period until September 28, the company earned a record $64 billion, 2% more than a year ago. Tim Cook, Apple's CEO, stressed that this was the best quarter in financial terms in the company's history. It is worth noting that the trend from last year is still continuing: iPhone sales are dropping, but the revenue from services is increasing. Wearables and iPad segments are also constantly developing.
Unfortunately, the company has to somehow cope with the dropping interest in iPhones. Revenue from the sale of these devices decreased by as much as 9.2% year on year - from $36.76 billion to $33.36 billion. A decrease was also reported for Macs. As it turns out, however, the worse sales results of the company's seemingly flagship products do not translate into declining financial condition. Apple is still doing great, and it looks as if the company is able to shrug off any number of failed new iPhone features and the price and design of AirPods Pro. Tim Cook himself doesn't hide his optimistic expectations when commenting on the company's financial results:
"We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad. With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we’re very optimistic about what the holiday quarter has in store."
It needs to be said that the first quarter of 2020 promises to be very interesting for Apple. Apart from the fact mentioned by Cook, the upcoming holiday season, Q1 2020 will be the moment of Apple TV's debut. Therefore, it is not surprising that the company forecasts revenues at the level of $85-89 billion. For comparison, Q1 2019 brought Apple revenue of $84 billion. If you are a fan of tables and statistics, please visit this address. You will find there a full report and all data concerning financial statistics for the fourth quarter of 2019 fiscal year.