Apple is just $100 billion away from being a trillion
Tomorrow, we'll see how much the world loves the latest iPhone. Today, we'll have to settle for another spectacular report on Apple's revenue.
Apple brought in $52.6 billion last quarter, a 12 percent increase from the year prior. The device manufacturer blew past analysts expectations of just over $50 billion. Its guidance for 2018 revenue also beats previous estimates.
SEE ALSO:Apple iPhone X review: A bold step into the futureThe company's happy news sent its stock up by more than 3 percent in after-hours trading and bumped its valuation to more than $900 billion — only $100 billion short of being the first $1 trillion company.
Tweet may have been deleted
For Apple, the iPhone is still the crown jewel. Apple sold 46.7 million iPhones over the past three months, adding up to $28.85 billion in revenue. But the tech giant has impressively grown sales in every single one of its other product offerings.
“We’re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services,” Apple CEO Tim Cook said in a statement.
“With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product lineup, we’re looking forward to a great holiday season," he continued.
"We're literally firing on all cylinders," Cook said on an earnings call with investors Thursday. "This is going to be the best holiday season yet."
"We're literally firing on all cylinders," Cook said.
Sales of Mac computers were up 25 percent from last quarter. Revenue on the iPads were up by 14 percent. Apple does not disclose how many Apple Watches it has sold but said the unit growth was up by more than 50 percent.
Beyond all these devices, Apple is bringing in more money from its services business. The company now has more than 210 million subscribers, which includes Apple Music and iCloud customers. Paid subscribers to Apple's music streaming service are up by 75 percent from the year prior.
Apple is growing at home and internationally. Cook said Apple achieved record profits in the U.S. and in other regions such as China. Sales in Greater China had been down in every one of the last six quarters, but rose by 12 percent over the last quarter compared to the year prior.
"We were especially happy to return to growth in Greater China," Apple's Chief Financial Officer Luca Maestri said.
It should only get better for Apple later this year. The iPhone X — Apple's latest and most expensive phone yet — wasn't counted this quarter since preorders were last week. It goes on sale in stores Friday. Sales of the iPhone 8 and 8 Plus began late last month.
Despite the iPhone X's starting price tag of $999, Cook said he is confident in its ability to sell.
"We're not trying to charge the highest price we can get. We're trying to price it for what we're delivering," Cook said.
He further justified the price tag by saying the monthly pricing plan can cost users about a few coffees a week.
Tweet may have been deleted
Cook isn't just looking forward to future iPhone sales. He's bullish on the future software within Apple devices.
"We believe AR is going to change the way we use technology forever," Cook said.
Cook also noted Apple's growing retail presence. The company recently opened a new store on Michigan Avenue in Chicago, and Cook said the stores are prioritizing hosting community-focused experiences.
Featured Video For You
Walmart is testing self-scanning robots
-
Arshad Nadeem receives Hilal[Weekender] Kids go wild in ‘infant forests’[Weekender] Kids go wild in ‘infant forests’Samsung Galaxy Z Flip 5G is available for preorderN. Korea testOver 60% of separated family members seeking reunions aged over 80: dataMartin Shkreli can't get a fair jury because everyone thinks he's an evil man snakeFritz to face Paul in bid for backHow to Backup Your Gmail AccountRonaldo scores as Al Nassr ease into Champions League quarters
下一篇:Best Home Depot Labor Day sale deals
- ·9 Festive Holiday Treats and Where to Find Them
- ·A new Alexa jamming device for people who don't own a hammer
- ·Top diplomats of South Korea, Russia discuss NK nukes, Moon
- ·Fritz to face Paul in bid for back
- ·World’s first ‘meltdown
- ·Over 60% of separated family members seeking reunions aged over 80: data
- ·A new Alexa jamming device for people who don't own a hammer
- ·Dani Alves sentenced to 4.5 years in jail for assault
- ·NASA's new plan keeps Starliner astronauts in space until 2025
- ·Paris 2024: a 'new era' of corruption
- ·Lawmakers propose resolution to scrap Korea
- ·Instagram Stories' new font looks an awful lot like Comic Sans
- ·13 Places to Find Little Legends and Compact Cryptids
- ·Argentina knock Brazil out of Paris Olympics
- ·全国人大代表、阳春“鸡司令”谢汝朋:建议开展联合育种、扶持特色农业
- ·名单出炉! 8人荣膺2023年“增城丝苗”拍客!
- ·Yoon, US Senate's armed service committee chief discuss alliance, N.K. threats
- ·Verstappen fastest in F1 Bahrain testing session
- ·Over 60% of separated family members seeking reunions aged over 80: data
- ·Snapchat maps can figure out what you're doing and it's either cool or creepy
- ·'Hyundai Way': Auto giant's W121tr plan aims to seize mobility market lead
- ·This distinguished little gentleman just won the 2023 Westminster Dog Show
- ·油价开启“8元时代”车主惊呼伤不起
- ·Pompeo says he expects Trump, Kim to discuss end
- ·DOJ accuses TikTok of collecting and sharing users' personal views, as the app fights a ban
- ·Engineer who took Google's self
- ·I Deleted All My Social Accounts: Three Weeks Without Social Media
- ·名单出炉! 8人荣膺2023年“增城丝苗”拍客!
- ·With 'AFTR,' you can stay virtually connected to loved ones you've lost
- ·Vietnam's top diplomat to visit North Korea ahead of Trump
- ·New image shows the North Star is changing. And it has spots.
- ·The best movies of 2017 (so far)
- ·名单出炉! 8人荣膺2023年“增城丝苗”拍客!
- ·[Weekender] Kids go wild in ‘infant forests’
- ·Campbell highlights Washington Declaration amid security concerns over Putin
- ·Martin Shkreli can't get a fair jury because everyone thinks he's an evil man snake