Apple reports record quarterly revenue

Apple on Thursday reported its fiscal first quarter results, posting revenue of $88.3 billion, an increase of 13 percent from the year-ago quarter and an all-time record.

“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. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO. “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, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.”

In the first quarter of 2018, Apple sold 77.3 million iPhones, down from the 78.2 million from the same quarter in 2017. The company sold 13.1 million iPads, up slightly from the 13 million sold in the year-ago quarter, and they sold 5.1 million Macs, down from the 5.3 million sold in the year-ago quarter. Apple services accounted for $8.4 billion in revenue for the quarter, up from $7.1 billion in the year ago quarter.

As is usually the case, Apple did not break down which models of iPhones, Macs, and iPads sold the most, although Tim Cook did say that iPhone X was the top-selling iPhone.