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Apple Q2 2018 earnings: The iPhone remains as popular as ever

by Danny Zepeda | May 1, 2018May 1, 2018 2:15 pm PST

Today Apple released its fiscal quarter earnings report in which it revealed that the iPhone remains as popular as ever. During the second fiscal quarter of 2018, Apple sold 52.2 million iPhones, up slightly over the 51 million it sold during the same quarter last year.

Analysts were expecting Apple to sell 53 million iPhones, which it narrowly missed. That has been a trend not only for Apple, but for other smartphone makers. As the smartphone market becomes more saturated and consumers upgrade less, there has been a slow decline in smartphones sold over the past year.

Among the 52.2 million iPhones sold, we don’t know how many were iPhone X, iPhone 8, iPhone 8 Plus or other older iPhone models. Apple doesn’t reveal exact figures in its reports.

During the quarter, Apple also shipped 9.1 million iPads and 4.1 million Macs, both of which were also slightly under expectations. Overall, Apple posted a quarterly revenue of $61.1 billion, up 16-percent over the same quarter a year ago. In total, the iPhone maker still has a monstrous $267.2 billion of cash on hand which is slightly lower than the $285.1 billion it reported last quarter.

“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Apple CEO Tim Cook. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter.

Apple’s products, in particular the iPhone X as it points out, continue to be a hit with consumers. That’s more impressive considering it starts at $999. Look for that continue in 2018 as newer iPhones and Macs are announced.

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Danny Zepeda

Born and raised in Southern California, Danny grew up on a steady diet Pixar, Star Wars and Steven Spielberg movies. Unbeknownst to him, this was...

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