iPhone Recovery Lifts Apple

Apple reported a 3% year-on-year rise in revenue for the quarter ending December 31 to 78.35 billion US dollars, fuelled by a 5% increase in iPhone revenue to 54.38 billion dollars. Apple predicted that it will generate between 51.5 billion and 53.5 billion dollars in total revenue in the current quarter, which would represent a year-on-year increase of between 2% and 6%.

"We sold more iPhones than ever before and set all-time revenue records for iPhone, services, Mac and Apple Watch,” said Tim Cook, Apple’s CEO. “Revenue from services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline.” source: Apple statement

In a conference call with analysts, Tim Cook added: "Apple Pay continued its strong momentum, with the number of users more than tripling over the past year and hundreds of millions of transactions and billions of dollars in purchases in the December quarter alone. Transaction volume was up over 500% year over year as we expanded to four new countries, including Japan, Russia, New Zealand, and Spain, bringing us into a total of 13 markets. Apple Pay on the Web is delivering our partners great results. Nearly 2 million small businesses are accepting invoice payments with Apply Pay through Intuit QuickBooks Online, FreshBooks, and other billing partners."

"Services are becoming a larger part of our business, and we expect the revenues to be the size of a Fortune 100 company this year*. Our services offerings are now driving over 150 million paid customer subscriptions. This includes our own services and third-party content that we offer on our stores. We feel great about this momentum, and our goal is to double the size of our Services business in the next four years. Source: earnings call transcript

*General Dynamics, which ranked 100th on the Fortune 100 list in 2015, had revenue of 30.9 billion dollars in that year.


Source: Statista