Wednesday, 01 February 2017 09:30

Apple's Q1 2017: record revenue, iPhone sales Featured

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Apple sold a record 78.3 million iPhones during the first quarter of fiscal 2017 which ended on 31 December 2016, the company announced on Tuesday, US time.

It also announced overall sales of US$78.4 billion, another record for a single quarter. International sales constituted 64% of the sales.

Global iPhone sales brought in US$54.4 billion, a rise of 5% over the corresponding quarter in fiscal 2016.

Mac sales were also up, with US$7.2 billion in sales, a rise of 7% from the first quarter of 2016. However, unit sales were up by just 1%.

The downside was in iPad sales which fell to 13.1 million units from a figure of 16.1 million units in Q1 2016. Revenue was accordingly down by 22%.

The company, which now has a market cap of US$636 billion, also did well with its services like iCloud, ApplePay, Apple Music, the App Store and AppleCare. Sales yielded US$7.2 billion, a rise of 18% year-on-year.

Sales of Apple TV, Apple Watch, Beats products, iPod and Apple-branded and third-party accessories experienced a fall of 8%, with sales bringing in US$4 billion, compared to US$4.3 billion in the year-ago quarter.

In a statement, Apple chief executive Tim Cook said: "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.

"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.”

Apple chief financial officer Luca Maestri added: "Our outstanding business performance resulted in a new all-time record for earnings per share, and over US$27 billion in operating cash flow.

"We returned nearly US$15 billion to investors through share repurchases and dividends during the quarter, bringing cumulative payments through our capital return programme to over US$200 billion."

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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