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.


blog comments powered by Disqus
Octofinder Blog Catalog