Apple reported its first quarter 2017 financial results today, with 78.3 million iPhones and 13 million iPads sold. The company posted all-time record quarterly revenue of $78.4 billion and quarterly earnings of $3.36 per diluted share. In Q1 2016, Apple had revenue of $75.9 billion and earnings of $3.28 per diluted share.
For Q2 2017, Apple is providing guidance of revenue between $51.5 billion and $53.5 billion, and gross margin between 38 percent and 39 percent. Apple’s earnings call will begin at 5 p.m. Eastern time, and can be heard live on the company’s investor website. We’ll have a recap shortly after.
“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.”