14 DAY TRIAL // Apple is today reporting on the company's financial results for the first quarter of fiscal 2017, which ended on the last day of 2016, presenting earnings from iPhone, Apple Watch, Mac, and services sales.
In the press announcement, the Cupertino company revealed all-time record quarterly revenue of $78.4 billion and quarterly earnings per diluted share of $3.36, which appears to be their highest quarterly revenue ever if we compare these results to the $75.9 billion revenue with $3.28 per diluted share of last year's first quarter fiscal earnings. Apple reports that 64 percent of Q1 2017's revenue came from international sales of iPhone 7, Apple Watch, Macs, as well as various of its services.
"We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch," said Tim Cook, Apple’s CEO. "Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline."
Apple returned nearly $15 billion to investors
Apple also posted guidance for its second quarter of fiscal 2017 revenue, and it looks like they are expecting to see earnings between $51.5 billion and $53.5 billion from various sales, with a gross margin of 38% and 39%. The company's operating expenses should be between $6.5 billion and $6.6 billion and other income/(expense) around $400 million. The tax rate is believed to be of 26 percent.
According to Apple’s CFO Luca Maestri, the Cupertino company returned nearly $15 billion to investors, which brings the total payments to more than $200 billion. "We returned nearly $15 billion to investors through share repurchases and dividends during the quarter, bringing cumulative payments through our capital return program to over $200 billion."
Apple also did their usual conference call to live stream its Q1 2017 financial results to members of the press, which took place at 2:00 p.m. PST on January 31, 2017. If you weren't invited, you'd be able to view the webcast in approximately two weeks from the moment of writing this. Also, on February 16, 2017, Apple will pay its shareholders a cash dividend of $0.57 per share of the company’s common stock.