- How does this compare with Apple's predictions?
- How many iPhones did Apple sell?
- How many iPads did Apple sell?
- How many Macs did Apple sell?
- How many Apple Watches did Apple sell?
- Other Products
- Predictions for Q2 2017
- Listen again to Apple's earnings call Q1 2017
- Q4 2016 financial results
- Q3 2016 financial results
- Q2 2016 financial results
- Q1 2016 financial results
- Q4 2015 financial results
- Q3 2015 financial results
- Q2 2015 financial results
- Q1 2015 financial results
- Q4 2014 financial results
What were Apple's profits and revenues in Q1 2017, its latest quarterly financial report? And how many iPhones, iPads, Macs and Apple Watches did Apple sell this quarter?
On 25 October 2016 Apple reported its financial results for its fiscal first quarter 2017, the quarter ended 31 December 2016. Here, you'll find out how many iPhones, iPads, Macs and Watches Apple sold during the past few months, how to listen again to Apple's earnings call, and what the numbers mean - for you, for Apple's product portfolio, and for Apple's corporate health.
Apple report & financial results Q1 2017: Summary
For Q1 2017, Apple reports:
- Revenue of $78.351bn, up 3.3 percent on the $75.872 revenue recorded in the same quarter a year ago
- Net income (profit) of $17.891bn, down 2.6 percent on $18.361bn in Q1 2016
- Gross margin of 38.5 percent, down from 40.1 percent in Q1 2016
- Earnings per diluted share of $3.36, up 2.4 percent on $3.28 in Q1 2016
- International sales accounted for 64 percent of the quarter's revenue
- Apple's board of directors has declared a cash dividend of $0.57 per share of the Company's common stock. The dividend is payable on February 16
"We're thrilled to report that our holiday quarter results generated Apple's highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch," said Tim Cook, Apple's CEO.
"Our outstanding business performance resulted in a new all-time record for earnings per share, and over $27 billion in operating cash flow," said Luca Maestri, Apple's CFO.
Apple report & financial results Q1 2017: How does this compare with Apple's predictions?
Apple has achieved everything it predicted in the (cautious) guidance offered a quarter ago.
While posting Apple's Q4 2016 results back in October, Tim Cook offered the following guidance for Q1 2017:
- Revenue between $76 billion and $78 billion
- Gross margin between 38 percent and 38.5 percent
- Operating expenses between $6.9 billion and $7 billion
- Other income/(expense) of $400 million
- Tax rate of 26 percent
Apple report & financial results Q1 2017: How many iPhones did Apple sell?
Apple sold 78.29 million iPhones in Q1 2017, generating revenue of $54.378bn. Both figures are up 5 percent on the same quarter a year ago.
Tim Cook said the iPhone 7 Plus saw "the highest portion of the new product mix than we've ever seen with Plus models in the past".
[Apple sold 45 million iPhone units in Q4 2016.]
Apple report & financial results Q1 2017: How many iPads did Apple sell?
In contrast to the iPhone and Mac, the iPad continues to struggle, although the large dip in unit sales and revenue this quarter is most likely reflective of the lack of new products in this quarter; in the same quarter a year ago Apple launched the 12.9-inch iPad Pro. (The last new iPad release was the 9.7-inch iPad Pro, in March 2016.)
Apple sold 13.081 million iPads in Q1 2017, down 19 percent on Q1 2016; this generated revenue of $5.533bn, down 22 percent on last year.
[Apple sold 9.267 million iPad units in Q4 2016, making $4.255bn.]
Apple report & financial results Q1 2017: How many Macs did Apple sell?
Mac sales were only slightly up year-on-year in terms of units, but saw a significant spike in revenue, reflecting presumably the high price tag attached to the new MacBook Pro.
Apple sold 5.374 million Macs in Q1 2017 (up 1 percent on Q1 2016) and this made $7.244bn, up 7 percent on last year.
[Apple sold 4.886 million Macs in Q4 2016, generating revenue of $5.739bn.]
Read next: Mac buying guide 2017
Apple report & financial results Q1 2017: How many Apple Watches did Apple sell?
Apple rolls sales of the Apple Watch in with its Other Products category, which we report on next, but Tim Cook did specify that the company set an all-time revenue record for the Apple Watch in this quarter. He added: "Apple Watch is the best-selling smartwatch in the world, and also the most loved."
The absolute maximum revenue Apple can have made from its smartwatch is $4.024bn, the total for the entire Other Products category.
Apple report & financial results Q1 2017: Other Products
As previously mentioned, Apple made $4.024bn from its Other Products category - which includes the Apple Watch, as well as the Apple TV, iPods, Beats-branded products and other accessories - in Q1 2017. That's down 8 percent from the same quarter a year ago.
Apple report & financial results Q1 2017: Services
"Revenue from Services grew strongly over last year, led by record customer activity on the App Store," said Tim Cook, "and we are very excited about the products in our pipeline."
Apple made $7.172bn from Services (which includes Apple Music and Apple Pay as well as the iOS and Mac App Stores) in Q1 2017. That's up an impressive 18 percent on the same quarter last year.
Tim Cook reported that the App Store saw three billion dollars in purchases in December alone - making it the App Store's best month ever.
Apple report & financial results Q1 2017: Predictions for Q2 2017
Apple is providing the following guidance for its fiscal 2017 second quarter:
- Revenue between $51.5 billion and $53.5 billion
- Gross margin between 38 percent and 39 percent
- Operating expenses between $6.5 billion and $6.6 billion
- Other income/(expense) of $400 million
- Tax rate of 26 percent
Apple report & financial results Q1 2017: Listen again to Apple's earnings call Q1 2017
You can still listen to Apple's financial results conference call on Apple's website to get the results and hear from Apple executives as they discuss the earnings report and give hints about what's to come.
To listen, you'll need an iPhone, iPad or iPod touch with Safari on iOS 6.0 or later, a Mac with Safari 5.1.10 or later on OS X v10.6.8 or later or a PC with QuickTime 7 on Windows or Microsoft Edge on Windows 10.
Turn to the next page for full coverage of last quarter's financial results.