Apple says iPhone revenues fell 15 percent in Q1 2019, but total revenue from all other products grew

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iPhone XS Max Apple

After lowering its revenue guidance for the fiscal Q1 2019 quarter earlier this month, Apple today revealed its full results for the quarter.

Apple says that it brought in a $52 billion in revenue from the iPhone in Q1 2019, which is down 15 percent from the year-ago quarter. Total revenue from all other products and services grew by 19 percent, though, including $6.7 billion in revenue from iPad (up from $5.8 billion YoY) and $7.3 billion from Wearables, Home, and Accessories (up from $5.5 billion YoY). Apple also says that the Mac brought in $7.4 billion in revenue for the quarter (up from $6.8 billion).

Also of note is that Apple’s Services category brought in $10.875 billion for Q1 2019, up from $9.1 billion year-over-year. The Services category includes Apple Care, Apple Pay, Digital Content and Services, and more.

Apple posted a quarterly revenue of $84.3 billion for the quarter, down 5 percent year-over-year. Its net income for the quarter was $20 billion, which is about even from the year-ago quarter.

Here’s what Apple CEO Tim Cook had to say about these results:

“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. 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.”

As a reminder, Apple is no longer reporting unit sales for the iPhone, iPad, or Mac. The company has said that it doesn’t feel that the number of devices it sells in a 90-day period is a good indicator of the strength of its business.

Apple will host a conference call shortly to discuss its results further and take questions. I’ll be sure to report back with any interesting details that Tim Cook and Co. have to share.

 

UPDATE: Apple says that Apple Music now has more than 50 million paid subscribers. The company also confirmed that Apple Pay has launched in Germany, Belgium, and Kazakhstan, and that Apple Pay is now live in 27 markets around the world.

Also confirmed is the fact that there are now 1.4 billion active Apple devices around the world, with the iPhone claiming a global active install base of more than 900 million.



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