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Apple Q1 2018 on Revenues up 13pct of $88.3 billion

10:07 am on Feb 2, 2018 (gmt 0)

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Apple has reported revenues of $88.3 billion for the quarter, which is up 13% year-on-year, with a net income of $20 billion.

Although it sold fewer phones, the higher price made the difference, especialy considering the iPhone X is around $1,000.

“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,” said Tim Cook, Apple’s CEO. “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.” Apple Q1 2018 on Revenues up 13pct of $88.3 billion [apple.com]

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