Bumper Revenue For Apple Despite Falling iPhone Sales

02 Feb 2018 | 10.07 am

Bumper Revenue For Apple Despite Falling iPhone Sales

Sales of $88bn in three months to end December 2017

02 Feb 2018 | 10.07 am

Apple posted a 13% year-on-year increase in revenue through the three months to end-December 2017, despite a dip in iPhone and Mac sales.

The tech giant recorded revenue of $88bn during the period, which is its fiscal first quarter. It booked a net profit of $20bn, a year-on-year gain of 12%.

Apple launched its iPhone 8/8 Plus phones (pictured) in September 2017, followed by the launch of its iPhone X in November.

Q1 iPhone sales of 77 million were down 1% on Q1 2017’s tally. However, thanks to premium pricing, particularly on the €1,200 iPhone X, iPhone revenue in Q1 2018 was up by 13% to $61.6m.

Some 5.1 million Macs were sold by Apple in Q1 2018, a year-on-year decrease of 5%. The firm also reported that sales of iPads, which totalled 13.2 million, were up by 1%.

Revenue from other Apple products, such as Apple TV, Apple Watch, Beats products and iPod touch, improved by 36% to $5.5bn.

Regionally, Apple’s largest revenue gain was recorded in Japan, which, at $7.2bn, was 26% higher than Q1 2017 sales. European revenue ($21.1bn) increased by 14% year-on-year.

Apple CEO Tim Cook said that the Q1 2018 performance was the best in Apple’s history. “iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” he added.

“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.”

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