Apple Sets a New Record For iPhone Sales (theverge.com)

Apple has reported strong financial results for the first quarter of 2017. According to CEO Tim Cook, the "holiday quarter results generated Apple's highest quarterly revenue ever, and broke multiple records along the way." The company took in $78.4 billion in revenue and sold 78 million iPhones. The Verge reports: Apple reported a profit of $17.8 billion, and said its earnings per share were boosted by the high demand for the larger models of its iPhones, which have higher margins. On the earnings call, Chief financial officer Luca Maestri said that customer satisfaction with iPads, and the new iPad pro, was very high. He predicted strong growth in that category. But the sales figures don't reflect that optimism, with unit sales and revenue from iPad both down around 20 percent year over year. With over a billion iOS devices active around the world, Apple has been able to shore up its flagging hardware sales growth with an increase in revenue from services to those devices. This includes money from Apple Pay, iCloud storage, Apple Music, and App Store sales. It was by far the fastest-growing segment of Apple's revenue this quarter, climbing 18 percent to $7.17 billion since the same period last year. Cook said Apple is aiming to double service revenue over the next four years. Maestri said Apple's App Store had double the revenue of Google's Play Store in 2016. Apple has more than $200 billion in cash parked overseas. Cook said on today's call that he was optimistic about tax reform in the U.S. happening this year, and that this might allow Apple to bring a lot of that money back home. "With our toe in the water, we're learning a lot about the original content business," Cook said, hinting at one way Apple might deploy all that capital.

Comments

Of course the flock ignore the bad

[Anonymous Coward]

So it's true, Apple has basically become a phone company. Mac dales down, iPad sales down, dropping routers, dropping monitors, I would say everything Apple is doing is iPhone motivated.

Apple represents a mind virus like Microsoft.

[Zombie Ryushu]

Apple represents a mind virus like Microsoft. I see Apple as a predatory company, worse than Microsoft in alot of ways. They sort of represent an Ill in American society you don't see elsewhere. A drive to conformity, and closedminded-ness. They fleece their customer base, worse than Microsoft has over and over. They [should] be hit with Anti-trust and Anti-Monopoly suits. But with the irredeemably corrupt government in the US, it won't happen.