Apple has announced its financial results for their first fiscal quarter of 2020 and the company reported record earnings of $91.8 billion, this is their highest quarter to date.
The company saw an increase of around 9 percent on the same quarter last year and they also announces quarterly earnings of $4.99 per diluted share. They also announced a profit of $22.2 billion for the quarter.
“Our very strong business performance drove an all-time net income record of $22.2 billion and generated operating cash flow of $30.5 billion,” said Luca Maestri, Apple’s CFO. “We also returned nearly $25 billion to shareholders during the quarter, including $20 billion in share repurchases and $3.5 billion in dividends and equivalents, as we maintain our target of reaching a net cash neutral position over time.”
Apple is predicting revenue of between $63 and $67 billion for their second fiscal quarter of 2020 and you can see their full financial results at the link below.