Apple Beats Profit & Revenue
Apple reported financial results for its fiscal 2017 first quarter ended December 31, 2016. The Company posted all-time record quarterly revenue of $78.4 billion and all-time record quarterly earnings per diluted share of $3.36. These results compare to revenue of $75.9 billion and earnings per diluted share of $3.28 in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.
Investors were only looking for $3.21 in earnings per share and $77.25 billion in revenue. iPhone shipments came in at 78.29 million with expectations set at 77.42 million units.
“We’re thrilled to report that our holiday quarter results generated
Apple’s highest quarterly revenue ever, and broke multiple records along
the way. We sold more iPhones than ever before and set all-time revenue
records for iPhone, Services, Mac and Apple Watch,” said Tim Cook,
Apple’s CEO. “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.”
◾ revenue between $51.5 billion and $53.5 billion
◾ gross margin between 38 percent and 39 percent
◾ operating expenses between $6.5 billion and $6.6 billion
◾ other income/(expense) of $400 million
◾ tax rate of 26 percent