Apple has reported quarterly revenue of $45.4 billion with a net profit of $8.7 billion in their earnings for the financial year Q3 2017 that ended July 1, 2017. Revenues were up 7% year-over-year. Apple reported quarterly earnings per diluted share of $1.67 compared to diluted share of $1.42 in the year-ago quarter. During earnings call Tim Cook said that iPhone sales were impressive, with strong demand at the high end of its lineup.
He said that iPhone 7 was Apple’s popular iPhone, and sales of iPhone 7 Plus were up dramatically compared to iPhone 6s Plus in the June quarter of last year. Combined iPhone 7 and iPhone 7 Plus family was up strong double digits year over year.
Back in July last year worldwide iPhone sales crossed a billion since launch, now the CEO has announced that it has now surpassed 1.2 billion cumulative iPhones sold, 10 years since the launch of the first iPhone.
Apple sold 41.03 million iPhones, compared to 40.4 million in FY Q3 2016, which is 1.55% down YoY. iPhone sales were up year-over-year in most markets such as Asia, Latin America, and the Middle East growing unit sales by more than 25%. It sold 11.4 million iPads, up 15% YoY and sold 4.29 million Macs. Apple said that iPad saw strong double-digit increases in key markets such as the U.S., Japan, Germany, France, and Greater China.
Apple Music paid subscriptions reached over 185 million, an increase of almost 20 million in the last 90 days alone. Apple Pay was launched in Italy in May and will expand to UAE, Denmark, Finland, and Sweden before the end of 2017.
In addition to new store at the Dubai Mall, Apple opened our first stores in Singapore and in Taiwan during the quarter, expanding its total store footprint to 497 stores.
Apple expects revenue between $49 billion and $52 billion for FY Q4 2017.