Apple posts Q1 earnings: Revenue hits $117.2 billion amid drop in iPhone sales

Apple CEO Tim Cook

A closer look at iPhone and Mac sales

As is typically the case, Apple's earnings for the quarter were anchored by the iPhone. And while Apple stopped releasing sales figures a while ago, we can still glean how briskly the iPhone is selling by looking at overall sales figures. For the quarter gone by, the iPhone accounted for $65.5 billion in revenue. As a point of comparison, Apple during last year's holiday quarter saw iPhone-based revenue check in at $71.6 billion.

Mac sales also saw a drop in revenue. During the December quarter, Mac revenue checked in at $7.7 billion, compared to $10.8 billion in the same quarter a year-ago.

iPad, Wearables, and Services

iPad sales were a bright spot for Apple during the holiday quarter. iPad-based revenue came in at $9.3 billion compared to $7.2 billion in the year-ago quarter. Revenue from Apple's Wearables division, meanwhile, fell from $14.7 billion to $13.4 billion, year over year. And lastly, Services revenue reached a new all-time high of $20.7 billion for the quarter.

"We set an all-time revenue record of $20.8 billion in our Services business, and in spite of a difficult macroeconomic environment and significant supply constraints, we grew total company revenue on a constant currency basis," Apple’s CFO Luca Maestri said in a press release.

The rare earnings miss not surprisingly spooked some investors, with Apple shares trading down nearly 6 points in after-hours trading.

Other points of interest

During the quarter, Apple's installed base of active devices reached 2 billion. This is about a 200,000 increase year over year. It's also worth noting that Apple saw revenue take a dip across all geographic regions.

And lastly, Apple will pay out a cash dividend of $0.23 per share on February 16.


The post Apple posts Q1 earnings: Revenue hits $117.2 billion amid drop in iPhone sales appeared first on BGR.

Today's Top Deals

  1. This $16 clip-on lens kit fits the iPhone or any Android phone, and it’s awesome

  2. Amazon deal offers a 7-inch Android tablet for under $43

  3. Save 61% on a 6-port USB rapid charger on Amazon

  4. Save 75% on a Canon black and white multifunction laser printer on Amazon