The triumph of iPhone 7 and Apple watch has changed the fortune of Apple. The Cupertino-based company redeemed the top position in the smartphone market for the first time in 5 years.
Yes! Apple is back to its throne.
THE ‘RECORD’ YEAR FOR APPLE
On Wednesday, Apple Inc announced its all-time highest revenue till the date. Amid a year of historic results misses, it has produced record-shattering revenue of $78.4 billion. Consequently, this is record quarterly earnings per diluted share of $3.36 during its first quarter of FY17 that ended on December 31, 2016.
In a statement released with the report, Apple CEO Tim Cook said that
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.
Tim Cook also said:
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.
Luca Maestri, the CFO – Apple said,
Our outstanding business performance resulted in a new all-time record for earnings per share and over $27 billion in operating cash flow.
Furthermore, he said,
We returned nearly $15 billion to investors through share repurchases and dividends during the quarter, bringing cumulative payments under our capital return program to over $200 billion.
THE BBC REPORTS
As per reports from BBC,
It (Apple) reported revenue of $54.3 billion from iPhone sales, along with $7.2 billion from the Mac, $5.5 billion from the iPad and $4 billion from other products, including the Apple Watch.
As Chinese competition hit sales of its flagship iPhone series, Apple’s revenue curve had fallen for the past three consecutive quarters. However, iPhone 7 changed Apple’s fortune in the first quarter of 2017. The company sold 78.3 million iPhones which were 74.8 million a year ago.
Following the announcement, Apple shares raised by 3%. In fact, the stock has risen up by an astonishing 25% in the last 12 months. Trading above $124, Apple shares are currently at an 18-month high. Meanwhile, company’s international sales constituted 64% of its quarter’s revenue.
Besides that, the company has also grossed a service revenue of 7.1 billion. Comparatively, this is 18% more than its previous years.