Apple announced the financial results for its fiscal fourth quarter of 2017 this afternoon, and the numbers for the 3-month period are outstanding. All metrics were up from the year-ago quarter, including a 12% increase in revenue and 3% increase in iPhone sales.
Following the release of its earnings, CEO Tim Cook and CFO Luca Maestri hopped on a conference call to talk about Apple’s performance and offer up some insights into its future. And as usual, we’ve rounded up some of the more interesting points from the call.
- Apple expecting to earn between $84 billion and $87 billion in revenue for its first fiscal quarter of 2018
- Apple’s services arm generated $8.5+ billion last quarter, now the size of a Fortune 100 company
- Apple Watch grew over 50% for third consecutive quarter
- Apple Music subscriptions up 75% year-over-year
- Paid iCloud subscriptions up to 210 million, increase of 25 million since last quarter
- Over 5 million US merchants will support Apple Pay by end of 2017
- Luca Maestri: Mac doing well in enterprise market—all-time record sales for [fiscal] 2017
- The company’s entire wearable category up over 75% year-over-year
- Revenue for Apple was up 12% in Greater China, year-over-year
- Revenue for India doubled year-over-year
- Latest 451 Research study shows 97% customer satisfaction (or higher) across all iPhone models
- Apple now has $268.9 billion in cash
- There are now over 1,000 augmented reality apps on the App Store
At the time of writing, Apple’s stock was up 5% in after hours trading on the back of today’s strong report. If you want to listen to today’s earnings call, a replay will be available here for a limited time.