As expected, Cupertino-based Apple Inc. has just announced its latest quarterly earnings as part of its Q1 2017 earnings call, with the company once again having a successful three month quarter from September 25, 2016 through to December 31, 2016, which should immediately put most other businesses of a similar ilk in a position of envy.
Apple’s earning calls are nothing new, and are typically used by CEO Tim Cook to announce exactly how the company has performed over the last quarter, and to also make revenues, accounts, and other pertinent information available to the public and investors.
This time around it’s no different with the company reporting that it accumulated a record revenue of $78.4 billion during Q1 2017 with a net income of $17.9 billion. By comparison, Apple’s revenue for the same period last year was $75.9 billion while the net income was $18.4 billion.
Apple has been able to post those revenue and income figures largely due to record-breaking sales of 78.3 million iPhone units during the 2016 holiday quarter, thanks to the latest iPhone 7 and iPhone 7 Plus release, breaking the previous record of 74.8 million set last year in the same quarter. This iPhone sales performance has brought about a 5% year-on-year growth to bring a halt to the decline that’s been in place since last three successive quarters.
As for iPads, the company managed to only shift 13.1 million units compared to 16.1 million shifted in year ago quarter, but that is likely due to no new iPad model launch in Q4 2016 than anything else.
Apple’s Mac sales were just about okay, even after the recent release of 2016 MacBook Pro range, with the company reporting that 5.4 million units were shipped during this fiscal quarter compared to 5.3 in the same quarter last year.
Apple has also posted $7.2 billion from its Services departments, with another $4 billion flying into the financial coffers from “Other Products”, which includes hardware such as the Apple TV, Apple Watch, iPods, AirPods and more. One of the continuously frustrating things is that Apple doesn’t specifically go into any granularity about the “Other Products” category, other than posting revenues, meaning it’s difficult to get understanding how specific products are actually performing individually, rather than as a collective, although Apple did say that Apple Watch sales were record-breaking as well thanks to Series 2 launch.
CEO Tim Cook had this to say on the company’s record-breaking quarter:
“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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