“Apple investors weren’t thrilled about the lower-than-expected guidance for the 2018 second quarter, but they still have a lot to celebrate from the first-quarter earnings report,” Natalie Walters writes for The Motley Fool. “Apple reported four all-time records, including net income and overall revenue. The record-breaking results were fueled by record iPhone revenue, thanks to the higher prices on its smartphone lineup.”
“Apple sold 77.3 million iPhones during the last period; while that’s less than the same quarter last year, it’s also the highest ever for a 13-week quarter. Last year’s first quarter was 14 weeks long, and Apple sold 78.2 million iPhones,” Walters writes. “During the week of Dec. 24, a record number of customers bought or downloaded apps from the App Store, for a total $890 million spent in the seven-day period. In addition, customers spent $300 million on the App Store on Jan. 1, its highest-ever sales day since launching in 2008. [This record was outside the quarter, which ended on December 30, 2017.]”
“Apple’s overall revenue was also its highest recorded at $88.3 billion, a 12.7% increase from the same period last year. This past quarter’s revenue was about $10 billion more than Apple’s previous revenue record, set in the same period last year. This is significant, considering this quarter was a week shorter than the 14-week year-ago quarter,” Walters writes. “Apple also boasted its highest-ever net income at $20.1 billion, up $2.2 billion year over year. Diluted earnings per share were up about 16% to $3.80, also an all-time record.”
Read more in the full article here.
MacDailyNews Take: A strong, record-breaking quarter talked down by fomenters, the perpetually confused, and the Apple-hating FUDsters.
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