Oliver Haslam·

Q1 2018: Apple Made Record $88.3 Billion In Revenue Thanks To iPhone X Increasing ASP To $796 From $695

Ahead of its quarterly earnings call which will take place shortly, Apple has released the figures that we have all been itching to see.

After forecasting record quarter revenue of between $84 billion and $87 billion, Apple has now announced the figures for the last three months of 2017 – the first figures to include the iPhone X.

Apple reports $88.3 billion in revenue and $20.1 billion in profit for the quarter. That is made up of 77.3m iPhones, 13.2m iPads, and 5.1m Macs which were sold in the all important holiday quarter. That compares favorably to figures from the same quarter a year ago which saw Apple report $78.4 billion in revenue and $17.89b in profit. Thos figures included sales of 78.3m iPhones, 13m iPads, and 5.3m Macs – interesting reading when compared to today’s stats.

Unsurprisingly, CEO Tim Cook is pleased with the results – the “biggest quarter in Apple’s history.”

“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.”

It’s important to note that while iPhone sales numbers are slightly down compared to same time last year, but it’s likely due to this year’s flagship iPhone X launching later in November than usual September time frame. And since iPhone ASP (average selling price) is $796 this year compared to $695 same time last year, it likely means that iPhone X sold well and this shows up in 13% increase in overall record breaking revenue (Apple’s highest ever) this quarter compared to same quarter last year.

More information about the nitty gritty of these numbers will no doubt be shared during the earnings call, with analysts and Apple’s top brass getting together to discuss the outcome of what has clearly been a good quarter for Apple’s bottom line. It’s not as if there is ever a bad one though, is it?

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