Apple returns to growth with quarterly revenues of £62.3 billion

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The manufacturer reported its highest quarterly revenue, selling more iPhones than ever before Apple has returned to growth after three consecutive quarters of decline, recording revenues of $78.4 billion (£62.3 billion) in the three months to December 31 2016.

The period is the first full quarter since the iPhone 7 launch in September, with 78.3 million units of the device sold, up five per cent from a year ago. This resulted in revenue made from iPhone sales also jumping by the same margin to $54.378 million.

Apple’s iPad business also showed signs of improvement. Unit sales were down 19 per cent year-on-year but were up on a quarterly basis by 41 per cent to 13.081 million. Revenue from the tablets was down 22 per cent but up by 19 per cent respectfully to $5.533 billion.

Following the pattern of previous qurter, the manufacturer didn’t reveal sales figures for the Apple Watch.

Overall, revenue rose in all of major markets except for China, which was down 12 per cent from 12 months earlier to $16.233 billion.

Apple CEO Tim Cook said: “We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch.

“Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline.”

 

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