Apple has released its financials for its Q1 2020 period ending December 28th 2019.

The company posted an all-time quarterly revenue of $91.8 billion, up 9 per cent year-on-year. Apple also posted quarterly profits of $22.2 billion, up 11.4 per cent year-on-year.

Apple's iPhones made up the bulk of sales, as usual, generating $55.9 billion in revenue, up 7.6 per cent year-on-year. However, its "wearables, home and accessories" segment saw the most growth, posting sales of $10 billion, up 37 per cent year-on-year.

Strong demand

"We are thrilled to report Apple's highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables," said Apple CEO Tim Cook.

"During the holiday quarter our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion. We see this as a powerful testament to the satisfaction, engagement and loyalty of our customers — and a great driver of our growth across the board."

A record $1.42 billion was spent between Christmas Day and New Year's Eve in 2019 on Apple's App Store alone. The firm may be in for a slump in the future, however, as it is reported that iPhone production could be affected by the current coronavirus outbreak in China.