2019-01-29

Apple $AAPL FY19 Q1 Earnings LIVE Webcast Jan 29, 5pm EST

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UPDATE Jan 29, 2019 After Hours Trading $AAPL:
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Apple Inc. $AAPL (apple.com) FY 19 First Quarter Results: Apple’s conference call to discuss final first fiscal quarter results is scheduled for Tuesday, January 29, 2019 at 5:00 p.m. ETListen to the conference call webcast

Read the press release, excerpt below (emphasis added), and financial statements (pdf).
Apple today 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 percent from the year-ago quarter, and quarterly earnings per diluted share of $4.18, up 7.5 percent. International sales accounted for 62 percent of the quarter’s revenue. 
Revenue from iPhone® declined 15 percent from the prior year, while total revenue from all other products and services grew 19 percent. Services revenue reached an all-time high of $10.9 billion, up 19 percent over the prior year. Revenue from Mac® and Wearables, Home and Accessories also reached all-time highs, growing 9 percent and 33 percent, respectively, and revenue from iPad® grew 17 percent. 
“While it was disappointing to miss our revenue guidance, we manage Apple for the long term, and this quarter’s results demonstrate that the underlying strength of our business runs deep and wide,” said Tim Cook, Apple’s CEO. “Our active installed base of devices reached an all-time high of 1.4 billion in the first quarter, growing in each of our geographic segments. That’s a great testament to the satisfaction and loyalty of our customers, and it’s driving our Services business to new records thanks to our large and fast-growing ecosystem.” 
“We generated very strong operating cash flow of $26.7 billion during the December quarter and set an all-time EPS record of $4.18,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to our investors during the quarter through dividends and share repurchases. Our net cash balance was $130 billion at the end of the quarter, and we continue to target a net cash neutral position over time.” 
Apple is providing the following guidance for its fiscal 2019 second
  • revenue between $55 billion and $59 
  • gross margin between 37 percent and 38 percent
  • operating expenses between $8.5 billion and $8.6 billion
  • other income/(expense) of $300 million
  • tax rate of approximately 17 percent
Apple’s board of directors has declared a cash dividend of $0.73 per share of the Company’s common stock. The dividend is payable on February 14, 2019 to shareholders of record as of the close of business on February 11, 2019.
Background: Apple CEO Tim Cook issued a letter to investors discussing revised guidance for the first fiscal quarter. Read the letter to investors. See also Apple Investor Relations.

What's Behind Apple's Sales Slump And Dire China Warning?

Apple remains one of the biggest and most powerful companies in the world, and iPhone sales are its most important metric. So when iPhone sales slump in China, it means billions of dollars lost. And it rattles markets across the world. These are the three big factors dragging down Apple in China. CNBC video above published Jan 9, 2019.
"[D]ue to the ubiquitousness of WeChat, Apple's iOS holds a less prominent place in the Chinese user's mindspace - the iPhone retention rate is only 50%"--seekingalpha.com.

Huawei smartphone sales leap as Apple iPhone sales stall

Huawei is eyeing top spot in the smartphone market after overtaking Apple in 2018. iPhone's China shipments fell 22% in fourth quarter last year. Financial Times (ft.com) video above published Jan 25, 2019.


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