With the end of the January, apple is ready with their yearly first quarter results. Today apple announced their financial results for its first quarter 2017 ended December 31, 2016. This report consists of the revenue generated by apple for the product they launched in September.
Apple reported a terrific end to 2016, breaking its record for quarterly revenue with a massive $78.4 billion for the final three months of the year, that is the best in recorded the history of apple quarter revenue report. These results compare to revenue of $75.9 billion in the year-ago quarter. The company also checked off record revenues from its iPhone, Mac, Apple Watch, and Services divisions like AppStore and iTunes.
A very little change in design and a bit ugly looking dual camera for iPhone 7 plus couldn’t stop iPhone from breaking its own records.
“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.
After the loss of the top sold smartphone title in china, with this reports, it seems like apple is improving with its growth. In India, Apple sold 2.5 million iPhones last year, up from 2 million the year before. Apple will find it difficult in the near term to grow share dramatically as 75 percent of smartphones sold in the country are below ₹10 thousand.
- 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
You can listen to the Q1 2017 financial results conference call held at 2:00 p.m. PST on January 31, 2017, at Apple Events. This webcast will be available for approximately two weeks thereafter.