Following along with its yearly routine, Apple today announced it latest quarterly earnings.
Apple has officially announced its fourth quarter results of 2017. These follow the strong results from earlier this year, and see millions more of iPhones, iPads, and Macs sold to the masses. Here’s how it all breaks down:
Apple sold 46.7 million iPhones in the fourth fiscal quarter of this year, along with 10.3 million iPads. Meanwhile, Apple also sold 5.4 million Macs in the same stretch of time.
In total, the company earned $52.6 billion in total revenue in the quarter, and $10.7 billion in total profit.
“Apple today announced financial results for its fiscal 2017 fourth quarter ended September 30, 2017. The Company posted quarterly revenue of $52.6 billion, an increase of 12 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.07, up 24 percent. International sales accounted for 62 percent of the quarter’s revenue.”
As is par for the course, Apple’s CEO, Tim Cook, praised the strong quarter:
“We’re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services,” said Tim Cook, Apple’s CEO. “With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product lineup, we’re looking forward to a great holiday season, and with the launch of iPhone X getting underway right now, we couldn’t be more excited as we begin to deliver our vision for the future with this stunning device.”
Apple’s Chief Financial Officer, Luca Maestri, also chimed in:
“Apple’s year-over-year revenue growth rate accelerated for the fourth consecutive quarter and drove EPS growth of 24 percent in the September quarter,” said Luca Maestri, Apple’s CFO. “We also generated strong operating cash flow of $15.7 billion and returned $11 billion to investors through our capital return program.”
To compare year-over-year, Apple earned $46.9 billion in revenue, on the backs of 45.5 million iPhones, 9.2 million iPads, and 4.8 million Macs sold in the fourth quarter of 2016.
Of course, this quarterly earnings doesn’t reflect the incoming arrival of the iPhone X, which will surely cause a boost to the first quarter 2018 results following the holiday shopping season.
Finally, Apple is providing the following guidance for its fiscal 2018 first quarter:
- revenue between $84 billion and $87 billion
- gross margin between 38 percent and 38.5 percent
- operating expenses between $7.65 billion and $7.75 billion
- other income/(expense) of $600 million
- tax rate of 25.5 percent