The last Apple earnings report of 2017 is finally here and the results are even better than Wall Street anticipated.
Aided by strong iPhone sales thanks to the launch of the iPhone 8 and iPhone 8 Plus, Apple was able to bring in slightly higher than expected revenues and the company is expecting big things next quarter too.
Apple posted total revenues of $52.6 billion. Well above the estimated $50.7 billion Wall Street was expecting. In a statement released this afternoon, Tim Cook said it was Apple’s best Q4 ever.
“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. “With fantastic new products including iPhone 8 and 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.”
Total iPhone sales were at 46.7 million which was just slightly hire than the projected 46.1 million. iPad sales were strong at 10.3 million while 5.4 million Macs were also sold during the quarter.
Apple is expecting to have its biggest holiday quarter ever this year. The company pegged its revenue estimates at $84 billion. That would mean it plans to sell about 80 million iPhones. There’s certainly enough demand for the iPhone X to do it, the only question is if Apple can make enough.