After three consecutive quarters of year-over-year sales declines, Apple announced its biggest quarter ever. The company beat revenue and earnings expectations, selling more than 78 million iPhones.
Apple revenues came in above the high end of guidance. The company reported revenue of $78.4 billion vs. an expectation of $77.25 billion. It sold 78.2 million iPhones vs. 76 million expected. Indeed all product lines posted increases. Across the board it was Apple’s best quarter.
Here are numbers:
- iPhones: 78.3 million units, $54.4 billion in revenue
- iPad: 13.1 million units, $5.5 billion in revenue
- Macs: 5.4 million units, $7.2 billion in revenue
- Services (including Apple Pay, Apple Care): $7.2 billion in revenue.
- Other (including Apple TV, Apple Watch, Beats products): $4 billion in revenue.
At the end of the December quarter, Apple had $103.3 billion in cash and cash equivalents.
International sales were roughly 59 percent of total revenue. The company said it had net profit of $18.4 billion. The Americas, Europe and Greater China were the company’s top markets, in that order.
Notes from the earnings call:
CEO Tim Cook ticked off record sales across Apple product categories: iPhones, Macs, Apple Pay, Music, Watch, services revenue. He said the company sold more Watches than at any time. He also said there are more than 2 million small businesses using Apple Pay (some via third party partners).
Cook talked about smart home automation and integration with HomeKit and Siri. He said there are now more than 2.2 million apps.
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Author: Greg Sterling
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