Apple’s latest quarterly earnings report was released today and it is impressive. Earnings and revenue both beat analyst expectations, spurring a 3% share price increase in afterhours trading.
Apple generated more than $78 billion, driven by over 77 million iPhones sold.
“We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way,” said CEO Tim Cook. “We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch.”
Services neared $7 billion, proving it’s an increasingly important component of Apple’s overall business.
“Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline,” Cook added.
Apple expects to generate about $52 billion in revenue this quarter.
“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. “We returned nearly $15 billion to investors through share repurchases and dividends during the quarter, bringing cumulative payments through our capital return program to over $200 billion.”