Apple Inc. (NASDAQ:AAPL) has proved once again that smartphone business is not just about volume sales, it’s about quality and brand value that could keep a company mint billions. By reporting strong quarterly earnings and revenue in fiscal Q2 2018 results, Tim Cook has not only proved critics wrong but also boosted the confidence of investors and shareholders.
Apple posted a record revenue of $61.1 billion in fiscal Q2 2018. This is the best fiscal second quarter in terms of revenue and profit in the history of Apple. Here are the main highlights of Apple’s fiscal Q2 2018 earning calls:
- Apple’s posted revenue of $61.1 billion in fiscal Q2 2018, up 16% compared to the year-ago quarter.
- It was the sixth consecutive quarter for Apple to record growth in revenue.
- Apple’s profit in fiscal Q2 2018 grew 25% YoY to $13.8 billion.
- iPhone sales in fiscal Q2 2018 reached 52.2 million units, a marginal increased from 50.8 million units sold in fiscal Q2 2017. However, the sales of iPhone failed to meet the Wall Street expectations.
- iPad sales in fiscal Q2 2018 were also up slightly to 9.1 million units from 8.9 million in the year-ago quarter.
- Mac sales in fiscal Q2 2018 slipped to 4.1 million.
- Apple’s revenue from Mac in fiscal Q2 2018 remained flat at $5.8 billion.
- iPhone accounted for 62% of Apple’s overall revenue in fiscal Q2 2018, followed by Services.
- $37.9 billion Apple’s revenue came from iPhone sales in fiscal Q2 2018.
- The average selling price of iPhone in fiscal Q2 2018 also increased to $728 from $655 in fiscal Q2 2017, but declined from $796 in the previous quarter.
- iPhone X was the most selling iPhone model in fiscal Q2 2018.
- Apple’s revenue from services increased all-time high to $9.19 billion, an impressive growth of 31% from $7.04 billion in the year-ago quarter.
- Apple’s ‘Other Products’ category contributed $3.95 billion in Apple’s fiscal Q2 2018 revenue. It was also an impressive increase of 38% from $2.87 billion in fiscal Q2 2017.
- Apple recorded the highest revenue growth in Japan region (22%), followed by China (21%) and America (17%) and Europe (9%).
- Apple recorded the least revenue growth in fiscal Q2 2018 in Asia-Pacific region (4%), once again.
- The number of Paid subscriptions to Apple’s services surpassed 270 million in fiscal Q2 2018, a massive increased of 1.7X from just 100 million in fiscal Q2 2017.
- Apple’s Music subscription crossed 40 million in fiscal Q2 2018.
- Apple’s revenue from wearables increased almost 50% in fiscal Q2 2018.
- The number of Apple Stores worldwide has reached 502 as the company opened its first Apple Store in Australia and South Korea.
- iPhone X was the top-selling iPhone in China in fiscal Q2 2018.
- 2 million app developers in China writing apps for iOS and App Store.
All the above figures portray many interesting scenarios that require in-depth and thought-provoking analysis. We are taking a deep dive into these numbers and soon get back with few interesting pieces loaded with actionable insights.