Apple smashes Street with biggest quarter in company history

MacDailyNews ^ | Thursday, February 1, 2018 · 4:31 pm

[Swordmaker]

Apple today announced financial results for its fiscal 2018 first quarter ended December 30, 2017. The Company posted quarterly revenue of $88.3 billion, an increase of 13 percent from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $3.89, up 16 percent, also an all-time record. International sales accounted for 65 percent of the quarter’s revenue.

“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. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO, in a statement. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.”

“Thanks to great operational and business performance, we achieved all-time record profitability during the quarter, with EPS up 16 percent,” said Luca Maestri, Apple’s CFO, in a statement. “Cash flow from operations was very strong at $28.3 billion, and we returned $14.5 billion to investors through our capital return program.”

• iPhone: 77.316 million units, $61.576 billion revenue (YOY change: – 1% units, +13% revenue)
• iPad: 13.170 million units, $5.862 billion revenue (YOY change: +1% units, +6% revenue)
• Mac: 5.112 million units, $6.895 billion revenue (YOY change: -5% units, -5% revenue)
• Services: $8.471 billion (YOY change: +18% revenue)

Apple is providing the following guidance for its fiscal 2018 second quarter:

• revenue between $60 billion and $62 billion
• gross margin between 38 percent and 38.5 percent
• operating expenses between $7.6 billion and $7.7 billion
• other income/(expense) of $300 million
• tax rate of approximately 15 percent

Apple’s board of directors has declared a cash dividend of $0.63 per share of the Company’s common stock. The dividend is payable on February 15, 2018 to shareholders of record as of the close of business on February 12, 2018.

Thomson Reuters consensus estimate expected earnings of $3.86 per share, revenue of $87.28 billion, and Q218 revenue guidance of $65.73 billion. StreetAccount expected Q218 margin guidance of 38.9%. FactSet expected iPhone unit sales of 80 million

[Red Badger]

Is it bigger than this one????.....................

[Disambiguator]

The funny thing about that toy phone is that it’s patterned after a rotary desk phone, which are virtually nonexistent any more (except at my house). Do kids today even know what they’re supposed to be?

[Swordmaker]

tax rate of approximately 15 percent

This quarter. Last quarter was 25.6%.

[CodeToad]

Bought the Wife a Mac Mini for Christmas. I gave her a 10 minute overview and she’s been fine ever since. Regardless of any social or political viewpoints of Apple, they make products that work very well.

[Menehune56]

I’m more of a Mac guy but I finally got an iPhone during that quarter so I contributed to Apples revenue stream. I guess that just makes me a hopeless fanboy and moron according to some of our FRiends here. That’s OK, I’ve been called worse.

[Swordmaker]

Apple's cash pile hits $285.1 billion, a record

• Apple reported earnings on Thursday for the quarter that ended in December.
• The tech giant has said it plans to make $38 billion in tax payments to reflect new tax rules passed last year.
• Apple is also investing in expanding its content services and operations in emerging markets like India.

by Matt Hunter | Anita Balakrishnan
Published 2 Hours Ago Updated 33 Mins Ago
CNBC.com

Apple CEO Tim Cook. Apple CEO Tim Cook weighs in on iPhone X sales — Video

Apple's cash reserves hit $285.1 billion in the quarter ended in December, a record, reflecting the company's move to high-priced handsets and new tax regulations.

That's compared with $268.9 billion in the prior quarter. The increase in cash was disclosed Thursday in Apple's earnings report.

Apple has said it plans to make $38 billion in tax payments to reflect new tax rules passed last year. Wall Street has speculated that the lower tax rates may open the door for the tech giant to bring back cash from overseas and put it to work through acquisitions or by returning money to shareholders.

Apple has already revealed some spending goals: The iPhone maker says it will contribute $350 billion to the U.S. economy over the next five years, in the form of payments to suppliers, capital expenditures, advanced manufacturing investments and jobs.

It is also investing in expanding its content services and operations in emerging markets like India.

Cash hoard graphic at site.

[minnesota_bound]

167.78 USD Price increase 0.35 (0.21%)
After-hours: 173.25 Price increase 5.47 (3.26%)

Tomorrow will be bigger gain judging from the after hours.

[Swordmaker]

I see that there’s no unit growth. Wonder why they need to build another new HQ with 20,000 people. There must be some big products in the pipeline. Wonder what they are up to. The nonstop rumors about cars ended and the new rumors are they abandoned that.

From the Apple Financial Conference Call: "• 1.3 billion active installed device base is an increase of 30% in just two years."

That's certainly not flat. . . and the rumors of cars has not stopped. Apple added 21 self-driving cars to those already licensed with the State of California last month.

[Swordmaker]

My only comment - unit sales on all their products are flat.

These are quarter over quarter from last year's quarter. . . but here's what you need to know about that:

"This year was 13 week first quarter in 2018 vs. 14 week first quarter in 2017."

Add 7.7% to the figures for this year to account for an extra week's sales that would have existed were all things equal.

A fourteen week quarter would have provided gross revenues of $94.8 Billion, 83.25 million iPhones, 14.18 million iPads, and 5.5 million Macs to compare against.

[Swordmaker]

So which is right Drudge or Rush?

Rush. They are comparing a 14 week quarter last year to a 13 week quarter this year. That provides a 7.7% positive bias for last year. Add that into this years quarter and you see what you SHOULD be looking at for a growth comparison.

[sergeantdave]

So, Apple destroyed the shorts today?

Honey, did you call in that stop-loss order this morning?

Oops. No new satin drapes for the living room this month. Yes, ramen noodles and beans will be fine for dinner tonight.

[ThePatriotsFlag]

So who lied again this time?

[Swordmaker]

So who lied again this time?

Well, every anal-cyst who claimed that the iPhone X was not selling last quarter due to lack of demand for one. Then a host of them who claimed that due to that lack of sales Apple was cutting orders for this quarter to lower than last quarter, crying doom and gloom for Apple, ignoring the easily researched fact that sales in this quarter are ALWAYS LOWER than the preceding HOLIDAY quarter which has been record breaking every year for the last three years! Then there are the anal-cysts who, by only reporting on the iPhone X rumored sales failures, ignore the OTHER nine iPhone models, including TWO NEW MODELS, Apple was selling during the quarter!

There were lots of lies being spread around in the FUD in the last three weeks!

[Swordmaker]

r-hours: 173.25 Price increase 5.47 (3.26%)

NOW After-hours: 173.49 Price increase 5.71 (3.40%)

[ProtectOurFreedom]

Our oldest was born in 1986. We had the phone below on our kitchen wall as our main phone for years. When the kids got older, we realized it had great novelty to their friends who had never seen a rotary dial before. The kids would ask "Can I call my Mom to tell her I'm eating at your house?" and we'd say "Sure. There's the phone on the wall." Then they would sit there absolutely dumfounded and eventually sheepishly ask for help.

It was the funniest thing!

[Mr. K]

THAT WAS SO STUPID...

[ProtectOurFreedom]

Hmmm...up 30% over 2 years and up 6% 1 year. Look like previous FY was gangbusters at 24% and that’s dropped to 6% YOY. May not be flat, but that’s a serious YOY decline in unit sales. No?

[ProtectOurFreedom]

And saying Apple could make an iPhone X and sell it at $100 retail WASN’T?? Your comment was so inane it got what it deserved.

[SamAdams76]

Great news!

Looks like all the Apple-haters got a kick in the stomach when those numbers came out.

[roadcat]

http://www.todayifoundout.com/index.php/2012/10/steve-jobs-first-business-was-selling-blue-boxes-that-allowed-users-to-get-free-phone-service-illegally/

Interestingly enough, the Apple co-founders first product was a telephone dialing device called a Blue Box. It created the right tones to make long-distance calls for free (illegally). Steve Wozniak created it, and Steve Jobs marketed it. This was before they came up with products for a little-known company called Apple, which is making money selling phones although some here on FR refuse to believe they are successful.