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iPhone 7 sales break records, Apple posts a revenue all-time high

Written by Muneeb Ahmad ·  1 min read >

Apple has reported more iPhones sales last quarter than it ever did before, it includes the sales of iPhone 7, with an all-time record revenue and earnings per share.

Apple has published the financial results for its fiscal year 2017’s first quarter that ended December 31, 2016. As per the report, the company has earned $78.4 billion in revenue. The company posted the quarterly earnings per diluted share at $3.36. The company has said that about 64% of the quarter’s revenue resulted from international sales.

“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, the CEO Apple, Tim Cook in a press release.

The revenue earned for the past quarter has been an all-time high record quarterly revenue, along with the earnings per diluted share. The results compare to the last year’s same quarter’s revenue of $75.9 billion, and the earnings per diluted share of $3.28. iPhone, which accounts for two-thirds of Apple’s sales, had about 5% of boosted shipments at 78.3 million iPhones, as compared to 74.7 million of last year.

Apple’s business services, including Apple Pay, and the App Store, pitched in $7.2bn to the total revenue, an 18% increase from last year. The sales dropped in China, Hong Kong and Taiwan.

The said report seems to be a good news, considering the fact that the last year happened to be a relatively bad year for Apple, in terms of sale. The company had reported its first decline in annual sales and profit in its 15 years as iPhone sales dipped by 5%, last October. The failure also had resulted into a pay-cut for Tim Cook, the CEO Apple, who had to receive $8.75m in 2016, including salary and bonuses, a down 15% from last year.

Source — Apple NewsRoom, Image — BGR

Written by Muneeb Ahmad
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