Apple reports bumper earnings for 2017 first quarter

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After four successive quarters recording losses, Apple has seemingly turned things around. The company announced its financial results for the 2017 first quarter and it seems all records have been shattered.

WHAT DO THE FIGURES SAY?

Apple has also confirmed that it has sold more iPhones than ever before. The company had initially forecasted iPhone sales to be in the region of between 76 million and 78 million but actually sold 78.3 million units. The new MacBook Pro with Touch Bar also performed well. The new MacBook Pro made a dramatic turnaround after the battery life scandal, which we wrote about in an earlier article. With sales of 5.4 million units, the new MacBook Pro is the most pre-ordered MacBook ever!

Apple provided the following guidance for the fiscal 2017 second quarter:

  • Revenue between $51.5 billion and 53.5 billion
  • Gross margin between 38 percent and 39 percent
  • Operating expenses between $6.5 billion and $6.6 billion
  • Other income/(expense) of $400 million
  • Tax rate of 26 percent

CONCLUSION

With these record earnings, Apple has sent a strong message to critics who have recently panned the company for lack of innovation. Apple will need to capitalise on this upswing to continue this trajectory. Maybe 2017 will be Apple’s year after all. We will be keeping a very close eye on the company’s performance in the coming months. Stay tuned for updates.

AUTHOR

Indrasen Moodley

Indrasen Moodley is an academic and tech enthusiast. He is passionate about all things tech, especially the use of technology to enhance teaching and our understanding of the world around us.

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