Apple reports Q1 2018 revenue of $88.3 billion USD, sold 77 million iPhones

The iPhone X was the company's best-selling smartphone from October 2017 to December 30th, 2017


Cupertino computing giant Apple reported its first-quarter 2018 results Thursday evening.

The company generated $88.29 billion USD in revenue from October 2017 to December 30th 2017, representing a 13 percent increase over Q4 2017.

In a February 1st, 2018 media release, Apple said that the company’s Q1 2018 performance represented its greatest quarter ever.

Apple also revealed that it sold 77.31 million iPhones, 13.17 million iPads and 5.11 million Mac computers in Q1 2018.

“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup,” said Tim Cook, Apple’s CEO, in the same February media release.

According to Cook, sales of the company’s iPhone X smartphone “surpassed our expectations” and has been the company’s top-selling iPhone “every week since it shipped in November [2017].”

In a February 1st, 2018 investor call, Cook added that that iPhone X was the best-selling smartphone in the world in December 2017, according to industry analysts Canalys.

The iPhone X launched on November 3rd, 2018.

Looking ahead to Q2 2018, Apple expects between $60 billion USD and $62 billion USD in revenue.

Apple’s stock closed at $167.78 USD on Thursday evening, representing a 0.21 percent increase since markets opened this morning.

Source: Apple

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