Yesterday, we shared our predictions about Apple’s quarterly earnings call. While our expectations were pretty optimistic, we are happy to report that Apple has exceeded them in a big big way!!
The numbers from yesterday’s Apple’s Earnings Call revealed positive trends, bringing much-needed cheer to investors and customers alike.
After the event, Apple ecstatically announced on their website:
“iPhone, Services, Mac and Apple Watch Set All-Time Records”
Here are some highlights from the event:
- iPhone — still Apple’s biggest selling point – did exceptionally well.
- Revenue from “Rest of Asia” saw an 119% increase from the previous Quarter. A large part of this growth is due to Apple’s sales in India.
- The Mac consistently outperformed the iPad after a long time.
- This was despite the fact that Apple dropped the iPad prices across the board. In fact, the iPad price reduction was a unique phenomenon, and in stark contrast with the iPhone’s prices, it can be seen clearly.
- Revenue from Apple’s “Services” was up by 18%, to $7.2 billion. Tim Cook hopes to “double this number by 2020”. Although the growth rate is quite high, it still turned out to be lower than industry predictions.
- Apple’s pile of cash increased to a “record $246.09 billion”.
So, all in all, this was a good Quarter for Apple. Tim Cook & Co. will look to replicate the good performance in the coming quarters as well and hopefully comprehensively reverse their losing streak from the past year.
For now, Cook has announced his vision for the second quarter of 2017. He said he’s looking to improve the performance of the company on a quarter-to-quarter basis, before making any grand plans for the future.
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