01 Feb Apple just reported a record holiday quarter—but iPhone sales fell
Apple reported record earnings per share and revenue this afternoon, but the company missed on iPhone sales, an important metric. Here are the top lines:
- iPhone sales were down year-over-year. Apple sold 77.3 million iPhones (vs. analyst estimates of 80 million). That’s down by a million phones compared to the 2016 holiday quarter. (However, Apple points out that the quarter contained only 13 weeks of sales versus 14 in the year ago quarter.)
- The iPhone X sold well, however. “iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Apple CEO Tim Cook.
- $3.89 earnings per share on revenues of $88.3 billion (vs. analyst expectations of $3.86 EPS on revenues of $87 billion). The EPS is up 16% from last year’s holiday quarter, while revenues are up 13%.
- The Services business was up year-over-year but retracted slightly from the previous quarter.
- iPad sales rose slightly year-over-year to 13.1 million.
- International sales accounted for 65% of the quarter’s revenue.
- China sales are up—to $18 billion from $16.2 billion last year.
Source: Fast Company