Apple Announces Q1 2017 Revenue Results – Tech Giant Has Hit a Home Run and Broken Several Records
Though Apple had a few shaky financial quarters back in 2016, the start of 2017 shows that the Cupertino tech giant is back with a bang as it reports a record amount of revenue generated for its first quarter of the new year. Here are more details on how many units the company managed to sell, as well as the number of records broken by it.
Apple Reports a Record Revenue of Nearly $80 Billion as It States That It Sold Nearly 80 Million iPhones in This Quarter Alone – Company’s Fortunes Expected to Improve With Prospect of Newly Designed iPhone 8
With a record revenue of $78.4 billion USD that was generated thanks to 78.3 million iPhones sold, plus 13 million iPads and 5.3 million Mac machines, Apple is off to a commanding lead and this is just the start of 2017. The company’s CEO, Tim Cook has stated how the tech giant has managed to crush numerous records in reporting its Q1 2017 financial results:
“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. 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.”
In addition, the company also reported a new all-time record for earnings per share of $3.36. For comparison purposes, we have provided the financial results for Q1 2016 and compared them with this quarter right below.
Q1 2016 Financial Results
- $75.9 billion in revenue
- $18.4 billion in profit
- EPS of $3.28
- 74.8 million iPhones sold
- 16.1 million iPads sold
- 5.3 million Macs sold
Q1 2017 Financial Results
- $78.4 billion in revenue
- $17.89 billion in profit
- EPS of $3.36
- 78.3 million iPhones sold
- 13 million iPads sold
- 5.3 million Macs sold
Analysts predict that since the iPhone 8 is going to be a complete overhaul as far as design goes, the company might be able to exceed the number of iPhones sold in a given quarter, but we’ll have to see this for ourselves. In addition, a new and highly improved iPad family is expected to be announced later this year and that might add to the sales numbers for future quarters. How would you rate Apple’s Q1 2017 financial results? Let us know your thoughts right away.