What a difference a year makes. Just 12 months after Apple surprisingly revised down its quarterly earnings and reported lagging iPhone sales, the grass is much greener on this side of the calendar. You might say Midnight Greener.
For Apple’s first fiscal quarter of 2020 (which includes the final three months of 2019), the company posted record revenue of $91.8 billion, topping its own estimates and besting last year’s holiday quarter by nearly 10 percent. iPhone sales alone were up more than 7 percent as the iPhone 11 and iPhone 11 Pro proved to be a strong holiday seller. That’s not quite a record—Apple sold $61 billion worth of iPhones in the 2018 holiday quarter—but it’s the strongest results in two years.
