San Francisco: Buoyed by iPhone sales in the holiday season, Apple posted a record revenue of $88.3 billion -- a 13 percent increase from a year-ago -- for the first quarter of fiscal 2018 that ended on December 30.


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According to the company, it now has 1.3 billion active installed base of devices globally.


Apple's earnings per share rose 16 percent to $3.89 which is also a record. International sales accounted for 65 percent of the quarter's revenue.


"We're thrilled to report the biggest quarter in Apple's history, with broad-based growth that included the highest revenue ever from a new iPhone lineup," Apple CEO Tim Cook said in a statement late on Thursday.


"iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November," Cook added, allaying reports that iPhone X has not done well since its launch.


Apple's cash reserves reached $285.1 billion in the quarter.


"Thanks to great operational and business performance, we achieved all-time record profitability during the quarter, with EPS up 16 percent," said Luca Maestri, Apple's CFO.


"Cash flow from operations was very strong at $28.3 billion, and we returned $14.5 billion to investors through our capital return programme," Maestri added.


For its fiscal 2018 second quarter, Apple forecasts revenue between $60 billion and $62 billion.


Apple sold 77.3 million iPhones in the holiday quarter.


"We've also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That's an increase of 30 percent in just two years," Cook said.