The iPhone giant said that it had $3.89 in earnings per share (EPS) and $88.3 billion in revenue, compared with consensus estimates from Thomson Reuters that called for $3.86 in EPS and $87.28 billion in revenue. The same period from last year had $3.36 in EPS and $78.35 billion in revenue.
The product sales breakdown came out as:
- iPhone shipped 77.32 million units for $61.58 billion in revenue, up 13% year over year.
- iPad shipped 13.17 million units for $5.86 billion in revenue, up 6%.
- Mac shipped 5.11 million units for $6.90 billion in revenue, down 5%.
- Services revenues grew 18% year over year to $8.47 billion.
- Other Products revenues grew 36% to $5.49 billion.
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In terms of the guidance for the fiscal second quarter, Apple expects to see revenues in the range of $60 billion to $62 billion, with a gross margin in the range of 38.0% to 38.5%. There are consensus estimates calling for $2.84 in EPS and $65.73 billion in revenue for the coming quarter.
Tim Cook, Apple’s CEO, commented:
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. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November. 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, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.
Shares of Apple closed Thursday at $167.78, with a consensus analyst price target of $189.78 and a 52-week range of $127.78 to $180.10. Following the announcement the stock was initially down 1.5% at $165.14 in the after-hours trading session.
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