Apple Sales up 24% and revenue growth record

Apple’s Q4, 2017 earnings include the first days of sales for the company’s newest iPhone, the flagship product, delivered its best quarterly growth record with strong sales in all of its key products. The results also were driven by sales of iPhone X the highest-priced mobile phone ever. iPhone sales account for about two-thirds of total sales, along with upturn sales of Mac computers and iPad tablets.

Q4 EPS (GAAP):  $1.87 per share up 24%

Q4 Revenue: $ 52.6 billion vs Apple’s forecast of between $49billion and $52 billion  up 12% from last year

Gross margin: 37.91%

iPhone unit sales: 46.1 million

Apple reported a very strong finish to 2017 fiscal year. Tim Cook, Apple’s CEO Said: “ With fantastic new products including iPhone 8, iPhone 8 Plus, Apple Watch Series 3 and Apple TV 4K joining our product lineup, we’re looking forward to a great holiday season, and with the launch of iPhone X getting underway right now, we couldn’t be more excited as we begin to deliver our vision for the future with this stunning device.”

Apple’s forecast for the fiscal 2018 first quarter:

Revenue between $84 billion and $87 billion

Gross margin between 38 per cent and 38.5 per cent

Operating expenses between $7.65bilion and 7.75 billion

Apple’s board of directors has declared a cash dividend of $0.63 per share of the Company’s common stock.

Apple Fans who camped overnight outside Apple Stores across the world were celebrating on 3rd November 2017, after getting their hands on the smartest smartphone, as the early demand for iPhone X had outstripped the supply. Apple’s net income of $10.7bn for September 2017 quarter exceeded Samsung’s $10.1bn for the same period as Apple reclaimed the lead from Samsung.

Apple which posted a 12 per cent rise in total revenues to $52.6bn in its fiscal fourth quarter, its fourth sequential acceleration in revenue growth.