Monday , 23 October 2017
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Apple announces record quarterly revenues of USD 75 bln

Apple announces record quarterly revenues of USD 75 bln

Apple posted record quarterly revenue of USD 74.6 billion for its fiscal first quarter to December, up from USD 57.6 billion a year earlier. The result was well ahead of the company’s forecast of USD 63.5-66.5 billion. Net profit rose to USD 18 billion or USD 3.06 per diluted share from USD 13.1 billion or USD 2.07 per share. The gross margin grew to 39.9 percent from 37.9 percent, also beating Apple’s outlook of 37.5-38.5 percent. International sales accounted for 65 percent of the quarter’s revenue. The results were fuelled by all-time record revenue from iPhone and Mac sales as well as a record performance of the App Store. iPhone unit sales of 74.5 million also set a new record. 

For the second quarter, Apple expects revenues of USD 52-55 billion. The gross margin is projected to reach between 38.5 percent and 39.5 percent. Operating expenses are forecast at USD 5.4-5.5 billion, and other income/expense is forecast to be USD 350 million. The company forecast a second-quarter tax rate of 26.3 percent. 

Apple’s board declared a cash dividend of USD 0.47 per share. 

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