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Apple Q1 2018 earnings: iPhone X is a runaway hit

by Brandon Russell | February 1, 2018February 1, 2018 1:55 pm EST

It’s official: Apple sold a ridiculous number of iPhone models during the December quarter, closing out a year which saw the company introduce the iPhone X.

In its fiscal Q1 2018 earnings report, Apple confirmed it sold 77.3 million iPhones, a figure that includes the iPhone X, iPhone 8, and iPhone 8 Plus. However, the company didn’t say how many units of a particular model were sold.

Additionally, Apple sold 13.2 million iPads and 5.1 million Macs. In total, the company reported $88.3 billion in revenue compared to $78.4 billion in revenue during the same period a year ago. Although Apple announced higher revenue, the company’s iPhone sales did fall slightly compared to this same time last year, from 78.3 million iPhones to 77.3 million iPhones.

All said, the fiscal Q1 2018 quarter saw Apple make history.

“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,” Apple’s CEO Tim Cook said. “iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.”

That’s pretty remarkable considering the iPhone X starts at $999, making it Apple’s most expensive smartphone yet.

The company is expected to unleash three new iPhones later this fall, along with brand new tablets and Macs.


Brandon Russell

Brandon Russell likes to rollerblade while listening to ACDC.