Thanks to Record iPhone Sales, Apple Tallies its Best Ever Quarter
Another holiday quarter equals to another monster earnings report for Apple. Thanks to record iPhone sales of 78.3 million, Apple recorded revenue of $78.4 billion and profit of $17.9 billion during the first fiscal quarter of 2017.
iPhone, Services continue to grow
For comparison, Apple recorded $75.9 billion in revenue in the same quarter a year ago.
While iPad sales continued to fall year-over-year, Apple did manage to sell more Macs in the quarter compared to the previous holiday season.
The Services area was another bright spot, recording $7.1 billion in revenue – an 18 percent increase from the same 2016 quarter.
“We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch,” said Tim Cook, Apple’s CEO. “Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline.”
“Our outstanding business performance resulted in a new all-time record for earnings per share, and over $27 billion in operating cash flow,” said Luca Maestri, Apple’s CFO. “We returned nearly $15 billion to investors through share repurchases and dividends during the quarter, bringing cumulative payments through our capital return program to over $200 billion.”
Starting at 2 p.m. PDT, Apple will hold a financial results conference call for analysts. Anyone can listen by heading here. You’ll need an iPhone, iPad, or iPod touch with Safari on iOS 7.0 or later, a Mac with Safari 6.0.5 or later on OS X v10.8.5 or later, or a PC with Microsoft Edge on Windows 10.
We’ll update you if Apple announces any big news during the audio webcast.