Apple reports best March quarter ever, iPhone sales up

Apple on Tuesday reported financial results for its fiscal 2018 second quarter, which ended on March 31, 2018. The company posted quarterly revenue of $61.1 billion, an increase of 16 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.73, up 30 percent.

“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Tim Cook, Apple’s CEO. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.”

Apple sold 52.2 million iPhones in the quarter, up from the 50.7 million sold in the same quarter in 2017. The company sold 9.1 million iPads, up from the 8.9 million sold a year ago, and they sold 4 million Macs, down from the almost 4.2 million sold in 2017’s second quarter.

Services, which Apple has been focusing on in recent years, was up from $7 billion in the second quarter of 2017 to $9.1 billion in the most recent quarter.

Apple stock closed the day up $3.84 at $169.10 and is currently up an additional $6.80 at $175.90 in after hours trading.