Apple reported first-quarter results

Apple shared new all-time revenue records. Source: shutterstock.com

Apple announced financial results for its fiscal 2019 first quarter ended December 29, 2018. The company posted quarterly revenue of $84.3 billion, a decline of 5% from the year-ago quarter, and quarterly earnings per diluted share of $4.18, up 7.5%. International sales accounted for 62% of the quarter’s revenue.

Revenue from iPhone declined 15% from the prior year, while total revenue from all other products and services grew 19%. Services revenue reached an all-time high of $10.9 billion, up 19% over the prior year. Revenue from Mac and Wearables, Home and Accessories also reached all-time highs, growing 9% and 33%, respectively, and revenue from iPad grew 17%.

Apple is providing the following guidance for its fiscal 2019 second quarter:

• ?revenue between $55 billion and $59 billion;
• ?gross margin between 37% and 38%;
• ?operating expenses between $8.5 billion and $8.6 billion;
• ?other income/(expense) of $300 million;
• ?tax rate of approximately 17%.

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