Apple Reports Slight Decline in Revenue But Record Earnings in Q1 FY19
The first quarter of fiscal year 2019 was a mixed bag for the tech giant.
On Tuesday, Apple [NASDAQ: AAPL] reported mixed results in its first quarter financials for fiscal year 2019. The company had $84.3 billion in quarterly revenue, a 5 percent decline year-over-year, missing the company’s estimates for the quarter. The company’s earnings, however, hit a new record for the company at $20.0 billion, or $4.18 diluted earnings per share, a 7.5 percent increase year-over-year. On the January 29 earnings call, Apple CEO Tim Cook attributed the revenue decline compared to guidance to four factors: different iPhone launch timing, foreign exchange rates, supply constraints on some products and changing economic conditions in emerging markets, particularly in Greater China.
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