New Delhi: Cupertino, California based technology giant, Apple, today reported higher than expected earnings in Q4, 2019. The company reported revenues of $64 billion against an expected $63.01 billion. This is up 2% year-on-year and a new record for the September quarter for Apple.
The company also said it has seen growth in India and other regions. According to Luca Maestri, Apple's Chief Financial Officer (CFO), the company set new Q4 records in India, Canada, Germany, United States, Brazil and Malaysia. Revenues from India reached an all time high, the company said. Apple also hit an all time revenue record for Macs in the US and India.
In fact, even though the iPhone’s sales fell 9% year-on-year, the company’s smartphone still beat revenue expectations, earning $33.36 billion against the expected $32.25 billion.
“With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we’re very optimistic about what the holiday quarter has in store," said Tim Cook, CEO of Apple.
The company also said it saw 18% growth in services revenue, which includes platforms like Apple Music, iCloud, Apple TV+ and more. Cook said that since the trial period for Apple Arcade (the company’s gaming service) ended just about a weeks ago, it was too early to talk about conversions and revenues from that service.
“I think the prices that we made were smart and do show a level of elasticity," Cook said, answering a question about lower pricing for iPhone 11 in emerging markets. “In terms of emerging markets, we picked locally relevant prices," he added. “In other words, we tried to stay as close as we could to a local price point, which would be relevant to that particular market."