Apple has released financial results for its second quarter of its 2017 fiscal year and things appear to be good at the firm.
For one net income at Apple is up year on year. Apple reported a net income of $11 billion up from the $10.5 billion reported for the same period in fiscal 2016.
Before taxes and operating expenses are shaved off Apple generated $52.9 billion in sales with it’s iPhone, which makes up the lion’s share of that figure.
By 1st April as many as 50.8 million iPhones had been sold accounting for $33.2 billion in revenue.
“We’ve seen great customer response to both models of the new iPhone 7 (PRODUCT)RED Special Edition,” Apple chief executive officer Tim Cook said in a statement.
While 50 million iPhones is impressive, it’s rather lack lustre compared to the same period last year.
In Q2 2016 Apple sold 51.2 million iPhones, while in Q1 2017 the firm sold 78.3 million handsets. It’s worth keeping in mind, however, that Apple’s Q1 falls over the December holiday period where folks are more likely to buy a new iPhone as a gift.
On the other hand, Apple’s problem child is the iPad. During the quarter Apple was only able to sell 8.9 million slates generating $3.9 billion in revenue. To give you an idea of how bad that is: sales of the Mac only amounted to 4.1 million units and generated $5.8 billion in revenue.
The Cupertino firm did announce a refreshed iPad earlier this year which might help to claw back some market share and generate a bit more profit for Apple.
Of course, we’ll have to wait until Apple releases Q3 results to see if that happens.[Source – Apple]