Apple this afternoon announced the financial results for its fiscal first quarter of 2018, and the numbers for the 3-month are good but not great. The company beat EPS and revenue expectations, but fell short in iPhone sales.
Following the release of its earnings report, CEO Tim Cook and CFO Luca Maestri hopped on a conference call to talk about Apple’s performance. And as usual, we’ve rounded up some of the more interesting points from the call.
- There are now 1.3 billion devices in installed base—an all time high for all major products
- Apple now has $285.1 billion in cash and marketable securities
- Apple’s Q1 set a new all time record in both revenue and earnings for the company—$88.3 billion
- Double digit revenue growth in all geographic segments
- Apple Stores (online and physical) saw record 538 million visitors during the quarter
- iPhone X was best-selling iPhone every week since it shipped it November
- Averaged weekly, iPhone sales were up 6% over last year (Q1 2018 was 1 week shorter than Q1 2017)
- Set all time record in iPhone revenue, with iPhone ASP up to $796 thanks to higher priced iPhone X
- Apple’s services now have more than 240 million paid subscribers—revenue of $8.5 billion up 18% YoY
- All-time record quarter for App Store, with best holiday season ever
- Apple Pay hit 50% YoY growth in merchant adoption, now accepted at over half all US retail locations
- Best quarter ever for Apple Watch, 50% growth in units and revenue for 4th quarter in a row
- 60% of Mac sales were to first time buyers and switchers
- In calendar 2017 Apple acquired 19 companies
Despite missing on iPhone sales, at the time of writing, Apple’s stock was up 4% in after-hours trading. If you want to listen to today’s earnings call, a replay will be available here for a limited time.