Apple announces Q1 2018 earnings, reporting revenue of $88.3 billion
Apple has announced their quarterly financial results for the last three months of 2017, reporting revenue of $88.3 billion and $20.1b profit from 77.3m iPhones, 13.2m iPads, and 5.1m Macs sold, compared to $78.4b in revenue and $17.89b in profit from 78.3m iPhones, 13m iPads, and 5.3m Macs last year.
Apple’s Q1 2018 earnings are the first to include initial iPhone X sales due to the late release of the handset. Apple’s “Other Products” revenue was up 36% year-over-year, suggesting Apple Watch Series 3 and AirPods are selling well.
Tim Cook reports the iPhone X surpassed Apple’s sales expectations, becoming their top-selling iPhone every week since it shipped in November…
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.