Apple of my iPhone: Records tumble as quarterly revenue sets all-time high

The company announced that the holiday quarter, fiscal Q1 2017 or calendar Q4 2016, all-time revenue records for its iPhone, Services, Mac and Apple Watch businesses.

One year ago, in the first quarter of 2016, Apple reported a record-breaking profit: $18.4 billion on $75.9 billion in revenue. Revenue was spurred on by a return to form in iPhone sales, which also helped post a company record earnings per share of $3.36.

Apple reported that it sold 78.3 million iPhones in the December quarter and generated $54.4 billion in revenue.

Apple is predicting revenue between $51.5 and $53.5 billion. Apple reports that 64 percent of Q1 2017’s revenue came from worldwide sales of iPhone 7, Apple Watch, Macs, as well as various of its services. That division’s revenue last quarter totaled $6.3 billion. Apple sold 78.3 million iPhones during fiscal Q1 2017, marking another record quarter.

Revenue from services increased 20 percent to $7 billion.

Global sales accounted for 64 percent of Apple’s revenue, but revenue from Greater China was actually down 12 percent year over year.

As for other products in Apple’s lineup, iPad and Mac sales checked in at 13.1 million and 5.37 million units, respectively. But sales of the iPad continued to slide, down 22 percent from the first-quarter past year.

The Mac, meanwhile, saw more steady figures, with Apple noting only a modest year-on-year increase. Net income for the quarter finished at $17.9 billion. Profit was $17.9 billion, which was down from $18.4 billion during the same period past year. But that’s changing. Apple’s operating earnings, as measured by Standard & Poor’s, in the last three months of the year, will make up just 6.6% of the overall earnings of the S&P 500.

Apple Watch sales are lumped into Apple’s “Other Products” category, which includes Beats headphones, accessories, Apple TV, and other devices.

Apple stock price climbed 3 percent to $125 in after-hours trading. Analysts on average had estimated iPhone sales of 77.42 million, according to research firm FactSet StreetAccount.