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Apple Reports Record Results for 1Q 2017: $17.9B Profit on $78.4B Revenue, 78.3M iPhones

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Apple today announced financial results for the first fiscal quarter of 2017, which corresponds to the fourth calendar quarter of 2016. For the quarter, Apple posted revenue of $78.4 billion and net quarterly profit of $17.9 billion, or $3.36 per diluted share, compared to revenue of $75.9 billion and net quarterly profit of $18.4 billion, or $3.28 per diluted share, in the year-ago quarter. Both revenue and earnings per share were company records in what is traditionally Apple's strongest quarter due to the launch of new iPhone models.

Gross margin for the quarter was 38.5 percent compared to 40.1 percent in the year-ago quarter, with international sales accounting for 64 percent of revenue. Apple also declared an upcoming dividend payment of $0.57 per share, payable on February 16 to shareholders of record as of February 13.

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Apple sold a record 78.3 million iPhones during the quarter, up slightly from 74.8 million a year earlier, while Mac sales rose slightly to 5.4 million units from 5.3 million units in the year-ago quarter. iPad sales continued their recent declines, falling to 13.1 million from 16.1 million.
"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."
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Apple's guidance for the second quarter of fiscal 2017 includes expected revenue of $51.5-53.5 billion and gross margin between 38 and 39 percent. Revenue guidance is slightly below analyst expectations.

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Apple will provide live streaming of its fiscal Q1 2017 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Conference Call and Q&A Highlights are available in reverse chronological order after the jump.


Click here to read rest of article...

Article Link: Apple Reports Record Results for 1Q 2017: $17.9B Profit on $78.4B Revenue, 78.3M iPhones
 
Article Link
https://www.macrumors.com/2017/01/31/q1-2017-results/
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Reactions: George Dawes
i guess that 'boring' iphone 7 wasn't so boring after all. i can't imagine what sales will be like in a year with iphone 8. Services is almost as big as Mac sales (which were also up). Looks like that Macbook pro that everyone was complaining about sold very well. only thing that was down was the iPad.
 
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apolloa said:
Have to say that's an obscene amount of money, and nothing given back to the customer. Also shows how much of a one trick pony they still are.
Would be nice if they reduced the iPhone and iPad costs in the UK, considering the pounds gone back up but noooo.
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As one of those customers I don't feel that nothing has been given back to me. In exchange for my funds I have received iPhone, iPad, MacBook Pro, and Apple Watch this past year. It's an exchange of money for goods and services and I feel I've received value for the deal.
 
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That's a pretty solid gain on iPhone unit number, all things considered. Have to wait a bit to see what the channel build was.

$695 ASP for iPhones verus $691 a year ago. I think some might have expected a bit more of a bump there.

Nice growth in Services, but Other Products was actually down YoY.


EDIT: Apparently Apple only got into supply-demand balance on iPhones in January, so I'd expect that channel build was much smaller than last year. That would mean sell-through growth was even stronger than the reported unit numbers would indicate.
 
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Reactions: tomwhom
Wow... this is an intense amount of cash! Sheesh! Can't wait to see what's in store for 2017 with product announcement and WWDC ahead of us!
 
iPad sales look weak (both units and revenue), which seems to imply few people are buying the iPad Pro of either size (they are still buying iPad Air 2).
 
Nunyabinez said:
9% is Mac share of revenue. If anyone is unclear about why there is little love for the Mac, there's your answer.

P.S. figure out what percentage of the 9% is the Mac Pro.
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And who's fault is that if not apples? They intentionally let stagnate whole lineup for years.

This just shows that people aren't stupid and not going to buy anything.

If Apple actually cared we would see at least yearly and substantial updates to whole lineup.
 
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lyngo said:
Wow... this is an intense amount of cash! Sheesh! Can't wait to see what's in store for 2017 with product announcement and WWDC ahead of us!
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Let me tell you now.

New macOS, pretty much no new features. Maybe finally iOS app simulation.

New iOS, pretty much no new features. Maybe more iMessage emoji's.

That's it, a great day.
 
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