Apple very profitable, says Q4 revenue report

October 31, 2019 Off By Naveen Victor

Despite what many skeptics may have said about Apple’s long term profitability, they have been proven wrong, very wrong. Cupertino has just revealed its latest quarterly earnings, and it paints a pretty picture of what’s to come. Apple posted a quarterly revenue of $64 billion, which is an increase of 2 percent compared to the same period last year.

The international market accounted for 60% of that profit, but as a whole, Apple attributed its best Q4 revenue ever recorded to increased demand for its Services, wearables and iPad sales. The introduction of its new video streaming service, Apple TV+, which will be launched on 1st November, should help bolster its surge in revenue.

Apple is confident that this momentum will help steamroll its way into 2020 with an estimated fiscal 2020 first quarter revenue earning of between $85.5 billion to $89.5 billion. Though its halo device, the iPhone isn’t the runaway success it once was, the company doesn’t seem too worried. It’s whole host of services that include its credit card, are seeing an uptick in customer interest.

Apple TV+ will launch on 1st November with shows from A-list Hollywood celebrities like Jennifer Aniston. The service is taking aim at the business mode of companies like Netflix, which has been the dominant movie and video streaming service in recent years.