Apple reports $78.4 billion in revenues, $17.9 billion profit for Q1 2017

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Date: Wednesday, February 1st, 2017, 05:29
Category: Apple, Finance, iPad, iPhone, News

Where Apple’s profits had been down in the past few quarters, the company came back hard in the Q1 2017 financial report. Apple on Tuesday posted quarterly revenue of $78.4 billion, setting an all-time record for the company with a total net profit was $17.9 billion.

The lion’s share of the profits came from the iPhone, which saw sales of 78.3 million units in the company’s first quarter of fiscal 2017. That was an increase from the 74.8 million iPhones the company sold in the same quarter a year ago, holding the record until now.

The Q1 timeline also included Apple’s December/holiday sales for the iPhone 7 and iPhone 7 Plus handsets.


Mac sales were up slightly, reaching 5.4 million in the holiday period. That bested the 5.3 million units Apple shipped a year ago.

iPad sales were reported in at 13.1 million, down from 16.1 million for Q1 of 2016.

Apple guided revenue between $51.5 billion and $53.5 billion with a gross margin between 38 and 39 percent.

Stay tuned for additional details as they become available.

Via AppleInsider

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