Apple’s Q4 2017 Results: $52.6 Billion Revenue And $10.7 Billion Profit

Today, Apple announced their financial results for their fiscal fourth quarter of 2016, and that includes their year end results, as their fiscal calendar runs from September to September. Apple earned $52.6 billion in revenue, and $10.7 billion in profit for $2.07 per diluted share. In comparison, Q4 of 2016 saw revenue of $46.9 billion, and profit of $9 billion for $1.96 per diluted share. The gross margin was 37.9 percent, compared to 38 percent in Q4 of 2016, and international sales provided 62% of the quarter’s revenue.

For the year, Apple earned $229.2 billion in revenue, and $48.4 billion in profit for fiscal 2017, while fiscal 2016 saw $215.6 billion in revenue, and $45 billion in profit. The company now has $268.9 billion in cash and marketable securities. In terms of expectations, Apple’s guidance for this quarter was $49 – $52 billion, and gross margin between 37.5 and 38%.

In terms of sales numbers, Apple sold 46.7 million iPhones, and 10.3 million iPads, compared to 45.5 million iPhones, and 9.3 million iPads in the year ago quarter. The iPhone sales numbers include the first few days that the iPhone 8/Plus went on sale, but not the X yet. For the entire fiscal 2017, Apple sold 216.8 million iPhones, while iPads came in at 43.74 million. In 2016, Apple sold 211.8 million iPhones, while iPads came in at 45.6 million. That’s just 5 million more iPhones than last year, but Apple has now sold 1.246 billion iPhones in total. The iPad jumped up for the quarter, though a little down for the year with 381.64 million iPads having been sold overall.

Beyond their iOS devices, Apple sold 5.4 million Macs for the quarter compared to 4.9 million in Q4 2016, and 19.29 million for the year, which is uo from 18.48 last year. The Services sector of the App/iTunes Store, Apple Music, iCloud, etc generated $8.5 billion for the quarter, up from the $6.3 billion in Q4 2016.

You can listen to the full financial results conference call here. Apple’s guidance for Q1 of 2018 is $84-87 billion in revenue (which would be a company record), and gross margin between 38-38.5%. As Apple CEO Tim Cook describes,

“We’re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services. With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product lineup, we’re looking forward to a great holiday season, and with the launch of iPhone X getting underway right now, we couldn’t be more excited as we begin to deliver our vision for the future with this stunning device.”

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