Apple on Thursday reported its fiscal first quarter results, posting revenue of $88.3 billion, an increase of 13 percent from the year-ago quarter and an all-time record.
“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.”
In the first quarter of 2018, Apple sold 77.3 million iPhones, down from the 78.2 million from the same quarter in 2017. The company sold 13.1 million iPads, up slightly from the 13 million sold in the year-ago quarter, and they sold 5.1 million Macs, down from the 5.3 million sold in the year-ago quarter. Apple services accounted for $8.4 billion in revenue for the quarter, up from $7.1 billion in the year ago quarter.
As is usually the case, Apple did not break down which models of iPhones, Macs, and iPads sold the most, although Tim Cook did say that iPhone X was the top-selling iPhone.
Poor Apple. DOOOMED.
iPhone unit sales are down. This will be the main headline you see tomorrow. Never mind that it’s probably due to the relatively late availability of the X.
Again, or still?
Yes.
I also wonder how this compares to the 6S release. After all, the 8 is really the 7S in the sense that it comes 1 year after the last number bump from 6S to 7.
I expect sales will be spread out through year with less concentration in Q1. If Q2 goes anywhere near 50 million iPhones then they have a smash hit on their hands.
Sales up, record sales.
Stocks nosedive. Sigh.
It rebounded after hours, didn’t it?
My theory is that people purposefully spread rumors about iPhone X not selling well to drive down the stock price and scoop it all up right around the earnings call.
Don’t forget the ASP was also way up, now just under $800.
Note entirely. Still down by about $10 a share. I expect they’ll go up again, but it is none the less infuriating.
Dümed.
Apple will be forever doomed. There are certain things about this company that Wall Street absolutely hates. One is Apple’s penchant to pursue low market share percentage and higher profits. High profits is fine but Wall Street sees Apple as barely hanging on with such low market share percentage. It makes Apple such an easy target for poor iPhone sales based on negative supply chain rumors.
Another problem is Tim Cook. Wall Street hates Tim Cook and his timidity. Apple needs a ballsy CEO who wants to soundly defeat competitors. That’s the kind of CEO Wall Street loves. You should see the smiles on the faces of the greedy big investors whenever they hear Amazon is going to put some company out of business. Stupid Apple simply sits back and lets competitors eat away at their market share and seems not to care. Only Apple shareholders are left holding a torn-open bag with little inside.
Apple simply lets the analysts fabricate depressing stories about the company using unconfirmed sources. What kind of crooked manipulating crap is that. Apple has nothing to say and just lets the stories spread all over the internet. If that doesn’t scare investors and potential investors to other companies, then nothing will. The actual earnings report surely didn’t reflect all the hand-wringing doom and gloom the analysts were tossing around to frighten investors and shareholders. You didn’t see any of that sort of analyst pre-earnings scare tactics for Alphabet.
Only for day-traders. 🙂
No foul play then, the Market is always right?
Oh, Human, all too Human.
Net Quarterly Profit: $20.1 BILLION!!!!
Simply, unreal.
– Apple CFO Luca Maestri
Look at the ten-year chart. Wall Street is adept at kicking Apple down, but Apple always gets back up.
I know, and it always pisses me off. : )
The “free market” at work. Trash talk placed on a level with genuine accomplishment. Gossip given journalism status.
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