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Apple Reports Best Ever Q1 Results

apple q1 results

01 February 2017, USA:

Apple today announced financial results for its fiscal 2017 first quarter ended December 31, 2016. The Company posted all-time record quarterly revenue of $78.4 billion and all-time record quarterly earnings per diluted share of $3.36. These results compare to revenue of $75.9 billion and earnings per diluted share of $3.28 in the year-ago quarter. International sales accounted for 64% of the quarter’s revenue.

“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,” said Tim Cook, Apple’s CEO. “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.”

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“Our outstanding business performance resulted in a new all-time record for earnings per share, and over $27 billion in operating cash flow,” said Luca Maestri, Apple’s CFO. “We returned nearly $15 billion to investors through share repurchases and dividends during the quarter, bringing cumulative payments through our capital return program to over $200 billion.”

The Apple Watch set “all-time” revenue records during Apple’s holiday quarter, during which the company earned $78 billion in revenue. Without providing specific numbers like it does for the iPhone, iPad, and Mac, Apple said it broke records for both Apple Watch revenue and unit sales as per the report.

Despite what Apple considers a “significantly better performance” in mainland China, at least compared to the trailing three-quarters, Hong Kong continues to be a tough nut to crack, Cook said. The lucrative market has always been a difficulty for Apple, especially in terms of iPhone adoption. (Image- chimeconnect.com)

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