Saturday, September 26, 2020
Home Lead Story Apple Announces 20% Increase in Quarterly Sales Revenue

Apple Announces 20% Increase in Quarterly Sales Revenue

Apple is projecting total revenue for the 2019 first quarter in the range between $89 billion and $93 billion

Apple on Thursday announced a 20 per cent increase in quarterly sales revenue, which hit $62.9 billion, media reported.

The financial results for Apple’s fiscal 2018 fourth quarter that ended September 29 showed its quarterly earnings per diluted share were $2.91, up 41 per cent from the previous corresponding period, and its international sales contributed 61 per cent to the fourth quarter revenue.

Apple said it generated $19.5 billion in operating cash flow and returned over 23 billion to shareholders in dividends and share repurchases in the quarter, bringing total capital returned in fiscal 2018 to almost $90 billion, reports Xinhua.

“We’re thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our 2 billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple’s history,” said Apple CEO Tim Cook.

Apple
An Apple store in Woodbridge, Virginia. (VOA)

He said the Cupertino, California-based company had delivered new versions of iPhone, Apple Watch, iPad and Mac over the past two months, which offers the “strongest” lineup of products and services for the upcoming holiday season covering a period from Christmas to New Year’s Day celebrations.

Apple is projecting total revenue for the 2019 first quarter in the range between $89 billion and $93 billion. Its operating expenses are expected to be between $8.7 billion and 8.8 billion, with other income of $300 million.

Also Read- Conflicting Theories About Cellphone Radiations By Two Federal Agencies

However, Apple’s shares tumbled more than 7 per cent on Thursday, briefly falling below its $1 trillion market cap, a historic record it made in August to become the first US public company that crossed the $1 trillion threshold. (IANS)

STAY CONNECTED

19,140FansLike
362FollowersFollow
1,774FollowersFollow

Most Popular

Excessive Alcohol Affects Cognitive Brain Function

A new study released this week describes how excessive alcohol-consuming too much alcohol, too fast — affects the brain, leading to anxieties and other...

Playback Singer S. P. Balasubrahmanyam Dies at 74

Sripathi Panditaradhyula Balasubrahmanyam also known to as S. P. Balu or S. P. B. was not just an Indian musician or playback singer instead...

Weather During Winter Could Increase Spread of COVID

As winter brings shorter days and lower temperatures to the Northern Hemisphere, there is a chance we could see more COVID-19 cases. But experts say...

Dogs That Sniff Coronavirus Layout Safer Travel: Helsinki

Helsinki Airport is getting creative when it comes to operating safely in the age of COVID-19. Beginning this week, travelers arriving at Finland's busiest...

Common Diabetes Drug Associated With Lower Heart Issues

Drugs known as sodium-glucose cotransporter 2 (SGLT2) inhibitors are associated with a lower risk of major heart problems in patients with type 2 diabetes...

Taapsee Pannu Recalls her First Attempt as a Stand-up Comedian

Actress Taapsee Pannu has shared what was going on in her mind before she tried stand-up comedy last year. Follow NewsGram on Facebook to stay...

Into The Wild: Bear Grylls’ Episode Featuring Akshay Kumar Sets Record

Akshay Kumar has set a new record. This time, though, the big-screen superstar has made history on television. The recent episode of British adventurer Bear...

Transparency: Pradarshita- The Unspoken Story of How Dilli was Cheated by its Own

By Sudisha Limbu In April this year, Munish Raizada Films debuted Transparency: Pardarshita, a Hindi-language political documentary that talks about the India Against Corruption (IAC)...

Recent Comments