iPhone Sells 78 Million Units, Beating Forecasts and Setting Records
Posted by: Timothy Tibbetts on 02/01/2017 09:59 AM [ Comments ]
Apple surprised most people announcing that they saw $78.4 billion for revenue on expectations of $77.4 billion, and reported earnings of $3.36 per share on expectations of $3.21.
Wall Street had expected 76.3 billion units to be sold meaning Apple was just shy of beating that number by 2 billion, with a B, no small number.
It was Apple’s highest quarterly revenue ever, and the iPhone’s biggest quarter ever. After the announcement shares were up 3%.
“We’re thrilled,” said CEO Tim Cook in a press release. “We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch… and we are very excited about the products in our pipeline.”
A lot of credit goes to the average sale price (ASP) of $694.57, beating the $691 ASP of the first quarter last year, and beating Wall Street expectations of $688.
That’s an all-time high for ASP, indicating Apple devotees bought up iPhone 7 and iPhone 7 Plus, despite the controversy over Apple removing its headphone jack.
More on this video from Yahoo Finance:
It was Apple’s highest quarterly revenue ever, and the iPhone’s biggest quarter ever. After the announcement shares were up 3%.
“We’re thrilled,” said CEO Tim Cook in a press release. “We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch… and we are very excited about the products in our pipeline.”
A lot of credit goes to the average sale price (ASP) of $694.57, beating the $691 ASP of the first quarter last year, and beating Wall Street expectations of $688.
That’s an all-time high for ASP, indicating Apple devotees bought up iPhone 7 and iPhone 7 Plus, despite the controversy over Apple removing its headphone jack.
More on this video from Yahoo Finance:
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