Apple Reports Q1 FY18 Earnings: $88.3 Billion in Revenue, 77.3 Million iPhones Sold [Chart]

Apple on Thursday reported its [fiscal] Q1 2018 earnings, offering a look at its performance over the last 3 months. The company beat expectations in revenue, earning $88.3 billion, but fell short on iPhone sales at 77.3 million. Here’s a full breakdown of the numbers.

 The Company posted quarterly revenue of $88.3 billion, an increase of 13 percent from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $3.89, up 16 percent, also an all-time record. International sales accounted for 65 percent of the quarter’s revenue.

Apple sold 77.316 million iPhones, 13.17 million iPads, and 5.112 million Macs. iPhone sales were down 1% from the year ago quarter and Mac sales were down 5%. Analysts were expecting Apple to sell about 80 million iPhones.

And here are some comments from Tim Cook and Apple CFO Luca Maestri:
“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.”
“Thanks to great operational and business performance, we achieved all-time record profitability during the quarter, with EPS up 16 percent,” said Luca Maestri, Apple’s CFO. “Cash flow from operations was very strong at $28.3 billion, and we returned $14.5 billion to investors through our capital return program.”


That forecast is well below what analysts were expecting for Apple’s Q2 2018 guidance, so get ready for a rocky couple of months. For now, Apple should be starting its conference call shortly, so stay tuned to iDB for more highlights from its Q1 earnings.

 


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