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Apple reports record-breaking first-quarter results

Saf Malik
January 29, 2020

Strong sales from smartphones and wearables elevate Apple’s Q1 sales

Apple today announced record revenue in its latest quarter, helped by strong sales of its smartphones, apps, and wearables.

The company reported a record $12.7 billion in services net sales during the first quarter of its fiscal year which represents a year-over-year increase of approximately 17 per cent.

iPhone sales were up to around $56 billion compared to $52 billion during the previous Q1 and its wearables, growth in services and home and accessories category grew to a record high of $10 billion compared to $7.3 billion last year.

Meanwhile, the sales for the Mac and iPad categories reported a slight decrease in revenue. The Mac category reported $7.2 million, falling from $7.4 million one year ago while the iPad sales reported $6 billion falling from $6.7 billion this time last year.

Apple CEO Tim Cook said: “We are thrilled to report Apple’s highest quarterly revenue ever, fuelled 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.

“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.”

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