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Apple recovers from iPhone sales slump with a record-high revenue

Apple’s first fiscal quarter of 2017 broke internal records for the company as revenue reached an all-time quarterly high of $78.4 billion thanks in part to increased iPhone sales.

After three quarters of steadily declining iPhone sales, the first quarter of the 2017 fiscal year is starting off strong for Apple, who reported that both overall revenue and iPhone sales had reached a record quarterly high.

For the first fiscal quarter ending December 31, Apple reported an all-time high quarterly revenue of $78.4 billion, up from $75.9 billion pulled during the first quarter of 2016. While nearly $32 billion of that came from the Americas, the company shared that 64 percent of overall revenue came from international markets.

iPhone sales also shattered internal records, likely thanks in no small part to a busy holiday season, bringing in just over $54 billion in revenue thanks to the 78.29 million units sold during Q1.

While sales of Apple’s smartphone were only boosted slightly from the 74.78 million units and $51.6 billion brought in during the first quarter of 2016, Q1 2017 marked the end of a streak that previously saw declining year-over-year iPhone sales for three consecutive quarters. 

Revenue for the Mac, Apple Watch, and Services also hit all-time highs, though the iPad struggled to keep up with Apple's other products during the holiday season. The tablet was notably the only piece of hardware that didn't see an increase in sales year-over-year, with iPad sales netting $5.5 billion in revenue this past quarter versus the $7.1 billion of 2016's first quarter.

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