Apple Generates $42 Billion in Revenue, Driven by 40 Million iPhone Sales

Thanks for subscribing!

Apple generated $42.4 billion last fiscal quarter, the company has reported, earning a profit of just under $8 billion. Overall, the company slightly topped analyst expectations for revenue and iPhone sales.

Apple sold more than 40 million phones, 10 million iPads, and over four million Macs during the quarter. The company generated $24 billion from the iPhone, $5 billion from the iPad, $5 billion from Macs, and $6 billion from services.

$18 billion of that revenue came from the Americas, $9 billion from Greater China, and $10 billion from Europe.

“We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June,” said CEO Tim Cook, who noted that services revenue reached an all-time high.

Apple expects its next fiscal quarter to generate approximately $46 billion in revenue. The higher figure anticipates the launch of the next iPhone.
“Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to investors through share repurchases and dividends, and we have now completed almost $177 billion of our $250 billion capital return program.”

Apple shares rose 5% in afterhours trading following the news.

Thanks for subscribing!

Thanks for subscribing!