fbpx
Business

Apple posts a strong finish with Q4 2017 results, $52.58 billion net revenue

The company’s total earnings for 2017 totaled approximately $229 billion USD

Cupertino computing giant Apple announced that completed its fiscal year with a $52.58 billion net income during 2017’s fourth quarter.

This marks a 12 percent increase over Q3 2017.

“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,” said Tim Cook, Apple’s CEO, in a November 2nd, 2017 media release.

Apple sold 46.7 million iPhones during the quarter ended September 30th. In addition, Apple also sold 10.3 million iPads and 5.4 million Macs.

“We also generated strong operating cash flow of $15.7 billion USD and returned $11 billion to investors through our capital return program,” said Luca Maestri, in the same media release.

In anticipation of the 2017 holiday season, the company said that it projects an estimated Q1 2018 revenue between $84 billion and $87 billion USD.

The iPhone X, Apple’s latest smartphone, goes on sale in Canada on November 3rd, 2017.

Apple has also been embroiled in an ongoing legal battle with chip manufacturer Qualcomm, and is expected to sever its relationship with the company in favour of chips made by Intel or MediaTek.

Apple stock currently sits at $168.11 USD per share.

Source: Apple

Comments