IPhone 7 helps Apple sales rise

IPhone 7 helps Apple sales rise

Apple is today reporting on the company's financial results for its first quarter fiscal 2017 earnings from iPhone, Apple Watch, Mac, and services sales, which ended on the last day of 2016.

Apple's latest quarterly earnings report gave the company a huge boost in confidence with revenue standing at $78.4 billion.

In the final three months of 2016, Apple sold 78.3 million iPhones and brought in all-time record revenue of $78.4 billion. That's up from $75.9 billion during the same quarter a year ago. The company expects revenues between $51.5 billion and $53.5 billion.

"The holiday demand was so strong we couldn't make enough", Cook said, and added that in the wearables category, Apple Watch has the highest customer service satisfaction rating by a wide margin. While almost $32 billion of that came from the Americas, the company shared that 64 percent of overall revenue came from worldwide markets.

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Apple's colossal cash reserve now sits at a staggering $246 billion after the California-based tech behemoth posted an all-time record quarterly revenue of $78.4 billion for the period ending December 31, the company announced yesterday. All told, that division took in $7.1 billion in revenue, up 18% from this time previous year.

Mac revenues were also $7.2bn, up 7%, while iPad revenue fell 22% to $5.5bn.

Apple shipped a total of 78.29 million iPhone 7 handsets, comfortably besting estimates of 77.42 million units.

Apple's board of directors also declared a cash dividend of 57 cents per share payable on February 16, 2017 to shareholders of record as of the close of business on February 13, 2017. Apple beat analyst expectations on revenue and net income. Following release of the earnings report, the stock was up 2.7% at $124.67 in the after-hours trading session. The Company's products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and Mac OS X operating systems, iCloud, and a range of accessory, service and support offerings. Second, Apple hasn't ever discussed Apple Watch sales and while we don't get them here, it's a hair surprising that the Apple Watch still set records during the holidays.