Apple pips Q1: Monster revenues of $78.4bn due to iPhone

31 Jan 2017208 Views

iPhone sales in Q1 2017 have smashed previous records. Image: Apple

Apple pulps previous records for iPhone, Services, Mac and Apple Watch sales in Q1.

Tech giant Apple has reported Q1 revenues of $78.4bn, saying it sold more iPhone devices in this quarter than any other in its history.

The revenues were up from $75.9bn last year.

‘We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch’

The California-headquartered company said that it achieved a profit of $17.8bn, which was down from $18.3bn reported this time last year.

Apple recorded an operating income of $23.3bn, which was also down from $24.1bn last year.

Either way, any doubts about Apple’s ability to sell more phones have been washed away, as the company revealed that the iPhone is still its biggest cash cow.

Apple sold 78,290 iPhone devices in Q1, way ahead of the 74,779 units it sold a year ago.

iPhone sales generated revenues of $54.3bn, more than the $51.6bn Apple recorded for iPhone sales in Q1 2016.

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Apple has reported its highest holiday quarter results with revenues of $78.4bn largely down to record iPhone sales.

Image: Apple

iPad unit sales were down to 13,081 compared with 16,122 devices sold a year ago in Q1, delivering a revenue of $5.5bn – down from $7bn last year.

Mac sales reached 5,374 devices sold in Q1 over 5,312 last year, resulting in revenues of $7.2bn, up from $6.7bn last year.

Revenues from services like Apple Music reached $7.1bn, compared with $6bn last year.

Meanwhile, ‘Other Products’, including Apple Watches and iPods were $4bn, down from $4.3bn last year.

“We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way,” said Apple CEO Tim Cook.

“We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch.

“Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline.”

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years