Wednesday, February 21, 2024
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Apple’s revenue hits an all-time quarterly high at $88.3 billion

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

The average selling price of the iPhone hit approximately $796.42; this was the highest ever for the smartphone. Apple sold 77.3 million iPhones, compared to 78.3 million in the year-ago quarter. iPad sales were up slightly year-over-year from 13.1 million to 13.2 million. However, Mac sales dipped slightly from 5.4 million to 5.1 million.

“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 CEO Tim Cook in a press release. “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% 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%,” added Chief Financial Officer Luca Maestri. “Cash flow from operations was very strong at $28.3 billion, and we returned $14.5 billion to investors through our capital return program.”

  • Apple is providing the following guidance for its fiscal 2018 second quarter:
  • Revenue between $60 billion and $62 billion;
  • Gross margin between 38% and 38.5%;
  • Operating expenses between $7.6 billion and $7.7 billion;
  • Other income/(expense) of $300 million;
  • A tax rate of approximately 15%.

Apple’s board of directors has declared a cash dividend of $0.63 per share of the Company’s common stock. The dividend is payable on February 15, 2018 to shareholders of record as of the close of business on February 12, 2018.

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.