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Apple Smashes Estimates With 78.3 Million iPhones Sold in First Quarter
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Apple (AAPL - Free Report) just released its first-quarter fiscal 2017 earnings data, and as always, the investment world is buzzing. Coming into today, one of the hottest points of discussion surrounding Apple was iPhone sales, and the new report has provided us with some updated numbers.
Apple’s first fiscal quarter is not only the holiday quarter, but also the first full quarter of iPhone 7 sales. The iPhone 7 caused great controversy upon its announcement after Apple chose not to include the industry-standard 3.5mm headphone jack on the device.
iPhone sales have typically accounted for around 60% of Apple’s revenue, but total sales of the phone have not been consistently climbing like they once did. In the fourth quarter, Apple iPhone unit sales came in at about 45.5 million, down 5% year-over-year. Total revenue from Apple’s iPhone unit came in at $28.16 billion, down 13% year-over-year.
According to today’s report, Apple sold 78.290 million units during the holiday quarter. This represents growth of 72% sequentially and 5% year-over-year. Total revenue from the company’s iPhone unit came in at $54.378 billion, up 5% year-over-year.
Apple’s total iPhone until sales comes in well ahead of analyst expectations of 77.3 million units and shows year-over-year growth after three consecutive quarters of declines.
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Apple Smashes Estimates With 78.3 Million iPhones Sold in First Quarter
Apple (AAPL - Free Report) just released its first-quarter fiscal 2017 earnings data, and as always, the investment world is buzzing. Coming into today, one of the hottest points of discussion surrounding Apple was iPhone sales, and the new report has provided us with some updated numbers.
Apple’s first fiscal quarter is not only the holiday quarter, but also the first full quarter of iPhone 7 sales. The iPhone 7 caused great controversy upon its announcement after Apple chose not to include the industry-standard 3.5mm headphone jack on the device.
iPhone sales have typically accounted for around 60% of Apple’s revenue, but total sales of the phone have not been consistently climbing like they once did. In the fourth quarter, Apple iPhone unit sales came in at about 45.5 million, down 5% year-over-year. Total revenue from Apple’s iPhone unit came in at $28.16 billion, down 13% year-over-year.
According to today’s report, Apple sold 78.290 million units during the holiday quarter. This represents growth of 72% sequentially and 5% year-over-year. Total revenue from the company’s iPhone unit came in at $54.378 billion, up 5% year-over-year.
Apple’s total iPhone until sales comes in well ahead of analyst expectations of 77.3 million units and shows year-over-year growth after three consecutive quarters of declines.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>