Apple Reports Record $78.4 Billion Revenue For Fiscal Q1

Posted: Feb 1 2017, 5:11am CST | by , in News | Apple

Apple reports record $78.4 billion revenue for fiscal Q1

Apple predicts a slow down for Q2

Apple has announced its financial results for fiscal Q1 2017 and they are very impressive. In fact these are record results with Apple reporting revenue of $78.4 billion. That massive amount of revenue also means an all-time record quarterly earnings per diluted share of $3.36. The same quarter a year ago Apple posted revenue of $75.9 billion and $3.28 per diluted share.

"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."

Appel notes that this impressive quarterly performance is in part thanks to record iPhone sales. Appel is also offering up guidance for fiscal Q2 and expects earnings to slow down significantly compared to Q1. Appel is predicting revenue between $51.5 billion and $53.5 billion. Gross margins are expected to be in the 38-39% range. Operating expenses will be between $6.5 billion and $6.6 billion. Appel is predicting other income/(expense) of $400 million and a tax rate of 26%. Apple's board of directors has declared a dividend of $0.57 per share of common stock payable on February 16, 2017.

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Tech and Car expert Shane McGlaun (Google) reports about what's new in these two sectors. His extensive experience in testing cars, computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
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