The tech giant Apple released first quarterly earning of 2018 yesterday. The company reported that it sold 77.3 million iPhones in first quarter of 2018. This number has decreased to 1.24 percent compared to last year as the last year this number was 78.3 million. Despite low Sales Apple Witnessed Improved Revenues.
Surprisingly, despite the decrease in sales on iPhones from last year, iPhone revenue increased year over year. Revenue generate is 11.69 percent up i.e. from $54.38 billion to $61.58 billion.
Despite low Sales Apple Witnessed Improved Revenues
Analyst predicted iPhone units sold during Q1-18 ranged from $710 to $755 however the actual number is $796 which clearly states the increase of revenue despite decrease in sales. Anylsts were expecting sale to increase approximately 1.5 percent year over year.
Total sales are 13 percent up on yearly basis, marking quarterly revenue of $88.3 billion. The increase in revenue is due to iPhone X and its interesting. While telling about it Tim Cook, Apple CEO said:
“iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,”
This is surprising to me as previously many analysts said that iPhone is not the best selling Apple device and that the company is about to end it soon. According to quarterly report, iPhone X has contributed to the ride of revenue for sure. It should be mentioned here that may be Apple is not able to sell many iPhone units but the one it sold were the most expensive ever.
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