Apple on Tuesday reported its [fiscal] Q1 2017 earnings, offering a look at its performance over the all-important 3-month holiday quarter. To the surprise of many analysts, the company beat Wall Street’s expectations by posting a record 78.3 million iPhone sales and $78.4 billion in revenue.
Here are Q1 2017 numbers compared to figures from the same quarter in 2016.
- Revenue: $78.4 billion vs. $75.9 billion
- iPhones: 78.3 million vs. 74.8 million, up 5%
- iPads: 13.1 million vs. 16.1 million, down 19%
- Macs: 5.37 million vs. 5.31 million, up 1%
And here are some comments on the numbers from Tim Cook and Apple CFO Luca Maestri:
“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.”
“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.”
Other interesting points from the earnings report include the revenue from “Other Products,” which includes Apple Watch and Beats headphone sales, was down 8% year-over-year in Q1, and revenue from China sales fell 12%. That’s pretty big considering the country is Apple’s 2nd largest market.
Apple will be starting its conference call shortly, so stay tuned for more highlights from their Q1 earnings.