Also read: Union Budget 2018: Technology Industry Reacts to The Budget
“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup,” Apple CEO Tim Cook said in a statement late on Thursday. “iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” Cook added, allaying reports that iPhone X has not done well since its launch.
Apple’s cash reserves reached $285.1 billion in the quarter. “Thanks to great operational and business performance, we achieved all-time record profitability during the quarter, with EPS up 16 percent,” said Luca Maestri, Apple’s CFO. “Cash flow from operations was very strong at $28.3 billion, and we returned $14.5 billion to investors through our capital return programme,” Maestri added.
For its fiscal 2018 second quarter, Apple forecasts revenue between $60 billion and $62 billion. Apple sold 77.3 million iPhones in the holiday quarter. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years,” Cook said.
Watch: Magniflex – The Rs 25 Lakh Mattress | Feature