🏅▷ Record revenue, iPhone X best-selling, Apple Watch booming ... how was Apple's first fiscal quarter of 2018

Yesterday, Apple released the financial results for its first fiscal quarter of 2018. And, as expected even by the projection made by the company, the period was excellent for Ma! As we mentioned, the Cupertino firm earned, in the period, a revenue of $ 88.3 billion (13% more than in the same period last year), with net profit of $ 20.1 billion (+ 12%) and diluted earnings from $ 3.89 (+ 16%). International sales comprised 65% of all quarterly sales.

Sales of iPhones cost 1%, totaling 77.3 million; still, it generated 13% more revenue than in the same period a year ago, reaching $ 61.6 billion. Sales of iPads grew 1%, reaching 13.2 million of units, which generated $ 5.9 billion (+ 6%) for the company. The Macshowever, had a “bad” quarter, with a 5% drop (5.1 million), generating revenue from $ 6.9 billion (-5%). The category Services, in turn, generated $ 8.5 billion (18% growth), while the Other products (which includes Apple Watch, Apple TV, AirPods, Beats headphones, among other things) earned significant revenue from $ 5.9 billion (+ 36%)!

As usual, the CEO Tim Cook and the CFO Luca Maestri held an audio conference to announce the results and comment a little on the company's performance in the last period. And in this event, they always paint interesting information, such as the confirmation that Apple Pay will soon arrive in Brazil (apparently supporting only Banco Itaí Mastercard and Visa cards).

Below, the main highlights mentioned by the executives.

General comments

It was a record quarter for Apple, reaching the highest revenue in the company's history and surpassing the old record by almost $ 10 billion.
The expectation for the next fiscal quarter (FQ2 2018), however, was below what the financial market was forecasting; while Wall Street envisaged revenues of around $ 65.7 billion (average), Apple expects between $ 60 and $ 62 billion.
The installed base of Apple devices is now 1.3 billion!
An interesting detail from the first fiscal quarter of 2018 was that it had 13 weeks, while FQ1 2017 had 14; making the necessary adjustments (taking into account that both were equal), Apple's growth would be even greater, at 21%.
Apple's revenues grew two digits across all geographic segments that the company monitors.
Apple now has $ 285 billion in cash (totaling cash and marketable securities); excluding debts, the amount of US $ 163 billion.
Despite the good numbers in the quarter, Cook believes that looking at numbers from a 90-day sales perspective is a very superficial way of looking at Apple; It is a much bigger thing to look at a long period, customer satisfaction and involvement, the number of active devices that is, the ecosystem and how one thing pulls the other.
Apple acquired 19 companies in fiscal 2017.

iPhones

Despite the drop in sales (small, true, since it was 1%), the average selling price (average selling price, or ASP) of the iPhone in the first fiscal quarter of 2018 stood at $ 796, well above $ 695 a year ago obviously, the introduction of the iPhone X and its base price of $ 1,000 helped a lot with that.
Further reinforcing the iPhone's ASP, Cook said the iPhone X has been Ma's best seller since it was launched.
It was the fifth consecutive quarter of strong growth in smartphone revenue.
In the US, according to 451 Research, the user satisfaction rate (home or business) of iPhones is 96% or more for all smartphone models.
Cook stated that iPhone X user satisfaction “exceeds the graphics” and that Face ID was incredibly well received.
96% also the device's loyalty rate, measured by Counterpoint Research.
On the controversy surrounding the reduction of processing iPhones with old batteries and whether this would impact the sale of new iPhones since Apple is offering to exchange the old battery for a new one at inviting prices, Cook said that Apple did not consider thinking if it would have any impact on sales: “We did it because we thought it was right for our customers. I don't know what effect this will have (). It wasn’t something thought and processed to decide to do what we did. ”

iPads

The average selling price of iPads in the FQ1 2018 was $ 445, slightly above the $ 423 of the FQ1 2017.
Globally, almost half of iPad sales went to early tablet buyers or to people migrating to the Ma ecosystem.
The company LensCrafters adopt 7,000 iPads to perform digital eye exams.

Macs

The average selling price of Macs in this fiscal quarter was stable, practically the same as a year ago.

Services

FQ1 2018 was a record for the App Store.
There are already 2,000 applications available in the store using ARKit.
Apple surpassed 240 million subscribers in services (Apple Music, iTunes Match, iCloud storage space, etc.); compared to the previous quarter, it is an increase of 30 million users.
Apple Music, iCloud and Apple Pay saw growth in users and achieved historical revenue in the fiscal quarter.
Apple Pay had an annual growth of 50% in adoption by tenants, reaching 2/3 of the Top 100 American shopkeepers.
It costs nothing to repeat: Apple Pay is coming to Brazil! 😃

Other products

Sales of the Apple Watch Series 3 were more than 100% higher than those of the Apple Watch Series 2 last year, the best quarter in the history of the watch.
Combining the results of the watch with those of Beats headphones and AirPods, total revenue from wearables da Ma increased by almost 70% over the previous year. It is the company's second largest source of income, second only to the iPhone.

Apple Stores

Apple stores conducted more than 200,000 programming sessions Today at Apple during the fiscal quarter.
Ma set foot in 21 countries with the opening of its new store in Vienna, Austria.