Apple smashes expectations: record setting $78.4B in revenue on sales of 78.3M iPhones

Posted:
in AAPL Investors edited January 2017
Apple's holiday 2016 quarter was the company's biggest ever, soaring to new heights on sales of 78.3 million iPhones following the launch of the blockbuster iPhone 7 series.




Apple posted quarterly revenue of $78.4 billion, setting an all-time record for the company. Its earnings per share came in at $3.36, also setting a new high. Total net profit was $17.9 billion.

The results also exceeded Wall Street expectations, where consensus called for $77.4 billion in revenue and $3.23 earnings per share.

As usual, Apple's success was determined by 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 December frame represented the first full quarter of iPhone 7 and iPhone 7 Plus sales.

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.

And iPad sales for the period were 13.1 million, down from 16.1 million last year.




Gross margins were 38.5 percent in the fiscal first quarter, compared to 40.1 percent in the year-ago quarter.

Looking ahead to its fiscal 2017 second quarter, Apple is guiding revenue between $51.5 billion and $53.5 billion and gross margin between 38 and 39 percent.

"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 Apple Chief Executive Tim Cook. "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."
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Comments

  • Reply 1 of 81
    eightzeroeightzero Posts: 2,210member
    doomed
    jfc1138SpamSandwichanomewilliamlondonlostkiwilkrupptdknoxanantksundaramjustadcomicsjahblade
  • Reply 2 of 81
    Wait, so does this mean we're not getting our headphone jacks back?
    jfc1138generous3837williamlondonlostkiwilkruppRayz2016randominternetpersonbrucemcjustadcomicsjahblade
  • Reply 3 of 81
    Imagine if the iPhone 7 and 7 Plus weren't a flop !!!

    They might have actually sold something.
    StrangeDaysjfc1138williamlondonEsquireCatslostkiwianantksundaramRayz2016tdknoxwatto_cobrabrucemc
  • Reply 4 of 81
    Gosh, but what about all the hand-wringing over their poor decisions and the iphone 7 being a disappointing fail because headphone jack and similar shell?

    Clearly people are buying what they're selling.
    edited January 2017 williamlondonlostkiwiwatto_cobrabrucemcargonautnetmagecalijony0
  • Reply 5 of 81
    jfc1138jfc1138 Posts: 3,090member
    But Nikkei reported a 30% "slash" right? 

    Sad. Everyone says so. 
    lostkiwianantksundaramwatto_cobraMikeymikecali
  • Reply 6 of 81
    I'm getting rich! Go Apple go.  
    watto_cobracalidr. x
  • Reply 7 of 81
    hurray, poppin' bottles tonight!
    watto_cobra1983cali
  • Reply 8 of 81
    blastdoorblastdoor Posts: 1,888member
    Mac revenue passes iPad revenue -- nice!

    Amazing what the Mac can do with few updates and little to no advertising. I think it speaks to the strength of macOS and the high build quality of Apple's aging hardware. 

    Now just imagine how well the Mac could do if Apple lifted a finger! 
    king editor the grategenerous3837lostkiwiwatto_cobralmagooasdasdjahbladeargonaut1983cali
  • Reply 9 of 81
    jungmarkjungmark Posts: 6,591member
    According to alternate facts, Tim Cook should be fired. 
    retrogustoStrangeDayswatto_cobrajustadcomicsjahbladehydrogennetmagecali
  • Reply 10 of 81
    quadra 610quadra 610 Posts: 6,741member
    Oh my god...  

    But once the iPhone fad wears off...












    /s
    anomeStrangeDayswatto_cobrapscooter63argonautnetmagecali
  • Reply 11 of 81
    AAPL up almost 3% in after hours trading. Should really pop tomorrow.
    watto_cobratmay
  • Reply 12 of 81
    SoliSoli Posts: 8,433member
    OK, so who wants to go back and pull comments from posters that guaranteed us that their quarterly earnings were going to suck because Cook sold a little stock after the new year and before taxes were due?
    edited January 2017 jfc1138lostkiwiStrangeDaysanantksundaramwatto_cobranetmagecali
  • Reply 13 of 81
    quadra 610quadra 610 Posts: 6,741member
    Mac sales on the typically HIGHER END @ 5.4 million units.

    Take note, folks. 
    StrangeDaysSoliwatto_cobrapscooter63argonaut
  • Reply 14 of 81
    Apple is such a failure. Surprised they're still in business with those low sales numbers. Haha. 
    watto_cobramark dodel
  • Reply 15 of 81
    jungmarkjungmark Posts: 6,591member
    How WS reacts:
    1. Thats nice for last quarter, what about this quarter. 
    2. A refreshed iMac would've been nice
    3. Imagine if they kept the headphone jack
    4. No subsidies will affect next quarter 
    5. Competition is still heating up. Watch out. 
    6. Still no Echo competitor. 
    lostkiwiSoliwatto_cobramark dodelpscooter63hydrogenargonautcalibaconstang
  • Reply 16 of 81
    FatmanFatman Posts: 204member
    Yes!
    watto_cobra
  • Reply 17 of 81
    Mac sales on the typically HIGHER END @ 5.4 million units.

    Take note, folks. 
    Not only that, Cook says that the Mac revenues set a new record. And clearly they would have sold even more if they had been able to keep up with demand for the new MBP, which still had an order backlog of a few weeks at the end of the quarter.
    edited January 2017 generous3837williamlondonSoliwatto_cobracali
  • Reply 18 of 81
    Remember how Walt Mossberg praised the Note 7 being innovative even with the exploding battery disaster while labeling iPhones 7, 7 Plus boring?

    Give me 78.3 million boring iPhones over the innovative recalled exploding Note 7 batteries any day of the year! 
    StrangeDaysSoliwatto_cobrapscooter63argonautbadmonknetmagecali
  • Reply 19 of 81
    iPhone-centric business. Fail. 

    /s
    watto_cobranetmage
  • Reply 20 of 81
    Imagine what revenue would have been if Apple had taken more advice from some of the posters on AI...
    edited January 2017 williamlondonwatto_cobrabrucemcstourquebushman4hydrogenbadmonknetmagecali
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