Apple exited 2016 like a lion, as the company posted record-setting iPhone sales while broadly beating Wall Street expectations for holiday season performance.
The company set a quarterly revenue record of $78.4 billion – beating predictions that hovered around $77 billion and generating earnings per diluted share of $3.36. Net sales were ultimately up nearly 3.3 percent from the same quarter a year ago.
iPhone sales, bolstered by the launch of the iPhone 7 in September, clocked in at a record 78.3 million for the quarter ending Dec. 31.
That narrowly beat out the 74.8 million phones sold between October and December 2015. The company's flagship smartphone accounted for nearly 70 percent of its revenue. On an earnings call Tuesday afternoon, CEO Tim Cook also praised the company's record-setting Apple Watch sales and said there had been positive customer reception to its wireless AirPod headphones. (US News)
Add new comment