AAPL

Apple Reports First Quarter Results with New All-Time Records

Apple today announced financial results for its fiscal 2018 first quarter ended December 30, 2017. The Company posted quarterly revenue of $88.3 billion, an increase of 13 percent from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $3.89, up 16 percent, also an all-time record. International sales accounted for 65 percent of the quarter’s revenue.

 

Apple is providing the following guidance for its fiscal 2018 second quarter:
  • revenue between $60 billion and $62 billion
  • gross margin between 38 percent and 38.5 percent
  • operating expenses between $7.6 billion and $7.7 billion
  • other income/(expense) of $300 million
  • tax rate of approximately 15 percent
“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO. “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, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.”
“Thanks to great operational and business performance, we achieved all-time record profitability during the quarter, with EPS up 16 percent,” said Luca Maestri, Apple’s CFO. “Cash flow from operations was very strong at $28.3 billion, and we returned $14.5 billion to investors through our capital return program.”
(Source: Apple Newsroom )

Article written by:

Holden Satterwhite is the CEO and Founder of Appleosophy. He manages a team of highly-skilled workers that love apple and their day-to-day operations. Holden loves collecting Apple products and lives in Austin TX.

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[…] In today’s earnings call, Apple CEO Tim Cook has announced that Apple Pay will be coming to Brazil soon. It is currently unknown when it will release but he did not give us a exact date when Apple Pay will launch. Apple Pay is now accepted at 50% of stores in the United States. […]