Holiday sales push Apple revenue to record $88.3 billion
San Francisco: Buoyed by iPhone gross sales within the vacation season, Apple posted a document income of $88.three billion — a 13 % enhance from a year-ago — for the primary quarter of fiscal 2018 that ended on December 30.
In keeping with the corporate, it now has 1.three billion lively put in base of gadgets globally.
Apple’s earnings per share rose 16 % to $three.89 which can be a document. Worldwide gross sales accounted for 65 % of the quarter’s income.
“We’re thrilled to report the largest quarter in Apple’s historical past, with broad-based progress that included the very best income ever from a brand new iPhone lineup,” Apple CEO Tim Prepare dinner mentioned in a press release late on Thursday.
“iPhone X surpassed our expectations and has been our top-selling iPhone each week because it shipped in November,” Prepare dinner added, allaying reviews that iPhone X has not achieved properly since its launch.
Apple’s money reserves reached $285.1 billion within the quarter.
“Because of nice operational and enterprise efficiency, we achieved all-time document profitability through the quarter, with EPS up 16 %,” mentioned Luca Maestri, Apple’s CFO.
“Money circulate from operations was very sturdy at $28.three billion, and we returned $14.5 billion to traders by our capital return programme,” Maestri added.
For its fiscal 2018 second quarter, Apple forecasts income between $60 billion and $62 billion.
Apple offered 77.three million iPhones within the vacation quarter.
“We have additionally achieved a major milestone with our lively put in base of gadgets reaching 1.three billion in January. That is a rise of 30 % in simply two years,” Prepare dinner mentioned.