Apple Releases 1st Quarter Report 2018-Shows A Significant Growth

Apple Releases 1st Quarter Report 2018 and shows a significant growth as compared to last year of same quarter. The Company reported quarterly revenue of $61.1 billion, an increase of 16 percent from the year-ago quarter. The quarterly earnings per diluted share increase $2.73, up 30 percent. International sales accounted for 65 percent of the quarter’s revenue.

Apple Releases 1st Quarter Report 2018-Revenue Increase and Credit Goes to iPhone X

“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,”

said Tim Cook, Apple’s CEO.

“Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.”

Also See: Apple Introduces New Red iPhone 8 and iPhone 8 Plus

Luca Maestri, Apple’s CFO, said

“Our business performed extremely well during the March quarter, as we grew earnings per share by 30 percent and generated over $15 billion in operating cash flow. With the greater flexibility we now have from access to our global cash, we can more efficiently invest in our US operations and work toward a more optimal capital structure. Given our confidence in Apple’s future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorization and a 16 percent increase in our quarterly dividend.”

The Company will complete the execution of the previous $210 billion share repurchase authorization during the third fiscal quarter.

Reflecting the approved increase, the Board has declared a cash dividend of $0.73 per share of Apple’s common stock payable on May 17, 2018 to shareholders of record as of the close of business on May 14, 2018.

As Apple Releases 1st Quarter Report 2018, the company is also providing the following guidance for its fiscal 2018 third quarter:

• revenue between $51.5 billion and $53.5 billion
• gross margin between 38 percent and 38.5 percent
• operating expenses between $7.7 billion and $7.8 billion
• other income/(expense) of $400 million
• tax rate of approximately 14.5 percent

Source:Apple