Apple has released its Q1 2017 financial results for the period ending 31st December 2016.
At first glance things appear to be going well for Apple. The firm brought in $78.4 billion in sales throughout the quarter a substantial increase year-on-year from the $75.9 billion the firm posted for the quarter ending 26th December 2015.
Once expenses. operating income and sundry have been deducted however the Cupertino bigwig saw income decline year-on-year. Net income posted for the quarter amounts to $17.8 billion versus $18.3 billion in the same quarter for 2015.
Granted, a less than $1 billion slide in income is hardly going to make the firm panic all that much especially when the iPhone is selling better than ever.
The firm reports that revenue from the firm’s smartphone amounted to $54 billion for the quarter, a 5% increase year-on-year. For those keeping score this means that Apple made $604 million everyday from sales of the iPhone in its first quarter for 2017.
“We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch,” Apple chief executive officer, Tim Cook told investors.
Apple sold 1% more Macs than in Q1 2016 representing a 7% revenue increase. Revenue generated from services such as AppleCare, Apple Pay, licensing and the like generated $7.1 billion, an 18% increase year-on-year.
The iPad however is floundering.
The firm managed to sell 13 million units in the quarter but that’s a 19% decline in units sold year-on-year. Financially speaking these less than enthusiastic sales brought in $5.5 billion, a 22% decline from the $7 billion in revenue Apple posted a year prior from sales of the slate.
Holistically speaking however Apple is doing well and expects to see revenue reach in the region of $51.5 billion and $53.5 billion during Q2 of 2017.
So Apple has seemingly proved the absence of a 3.5mm headphone jack wasn’t enough to put Apple fans off of the iPhone 7, but can we please have it back Apple? Pretty please?
[Image – CC BY/2.0 i a walsh]
