The holiday quarter is historically Apple's biggest and Q1 2017, which ends December 1, 2016, was no exception. Apple has reported 78.3M iPhones, 13.1M iPads, and 5.4M Macs sold, as well as "all-time record quarterly revenue" of $78.4 billion.
I have not yet done the numbers but I think Apple had the best quarter in the history of humanity.I have not yet done the numbers but I think Apple had the best quarter in the history of humanity.— Horace Dediu (@asymco) January 31, 2017January 31, 2017
Apple revenue guidance: $51.5B to $53.5B. Just a tad light but should be OK.Apple revenue guidance: $51.5B to $53.5B. Just a tad light but should be OK.— Neil Cybart (@neilcybart) January 31, 2017January 31, 2017
Apple Reports Record First Quarter Results
CUPERTINO, Calif.--(BUSINESS WIRE)-- Apple® today announced financial results for its fiscal 2017 first quarter ended December 31, 2016. The Company posted all-time record quarterly revenue of $78.4 billion and all-time record quarterly earnings per diluted share of $3.36. These results compare to revenue of $75.9 billion and earnings per diluted share of $3.28 in the year-ago quarter. International sales accounted for 64 percent of the quarter's revenue.
"We're thrilled to report that our holiday quarter results generated Apple's highest quarterly revenue ever, and broke multiple records along the way. 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. "Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline."
"Our outstanding business performance resulted in a new all-time record for earnings per share, and over $27 billion in operating cash flow," said Luca Maestri, Apple's CFO. "We returned nearly $15 billion to investors through share repurchases and dividends during the quarter, bringing cumulative payments through our capital return program to over $200 billion."
Apple is providing the following guidance for its fiscal 2017 second quarter:
- 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
Apple's board of directors has declared a cash dividend of $0.57 per share of the Company's common stock. The dividend is payable on February 16, 2017 to shareholders of record as of the close of business on February 13, 2017.
Apple will provide live streaming of its Q1 2017 financial results conference call beginning at 2:00 p.m. PST on January 31, 2017 at www.apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.
Master your iPhone in minutes
iMore offers spot-on advice and guidance from our team of experts, with decades of Apple device experience to lean on. Learn more with iMore!
Rene Ritchie is one of the most respected Apple analysts in the business, reaching a combined audience of over 40 million readers a month. His YouTube channel, Vector, has over 90 thousand subscribers and 14 million views and his podcasts, including Debug, have been downloaded over 20 million times. He also regularly co-hosts MacBreak Weekly for the TWiT network and co-hosted CES Live! and Talk Mobile. Based in Montreal, Rene is a former director of product marketing, web developer, and graphic designer. He's authored several books and appeared on numerous television and radio segments to discuss Apple and the technology industry. When not working, he likes to cook, grapple, and spend time with his friends and family.