Apple Posts Biggest Quarterly Profit Ever, But iPhone Growth Slowest Since 2007

0
201

iPhone company Apple on Tuesday announced financial results for the quarter ended December 26–and, while the financial results were huge, device unit sales were another story.

The technology giant generated $75.9 billion in revenue during the three-month period, which was an all-time quarterly record. Profit, meanwhile, was a record $18.4 billion. By comparison, Apple posted revenue of $74.6 billion and net income of $18 billion during the same quarter last year.

Apple Posts Biggest Quarterly Profit Ever, But iPhone Growth Slowest Since 2007

“Our team delivered Apple’s biggest quarter ever, thanks to the world’s most innovative products and all-time record sales of iPhone, Apple Watch, and Apple TV,” Apple CEO Tim Cook said in a news release. “The growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices.”

Apple sold 74.8 million iPhones during the three-month period, up slightly from the 74.5 million iPhones it sold during the same period last year. GameSpot sister site CNET reports that Apple missed Wall Street iPhone sales expectations and in fact, the year-over-year iPhone sales growth is the slowest this quarter since the company started selling the phones in 2007.

Additionally, iPad and Mac sales fell year-over-year. Apple sold 16.1 million iPads during the quarter, down from 21.4 million in the same period last year. Mac sales, meanwhile, came in at 5.3 million units during the latest quarter, a decline from last year’s 5.5 million.

Apple also announced today that, in the past 90 days, more than 1 billion of its devices (iPhone, iPad, Mac, iPod Touch, Apple TV, and Apple TV) were “engaged” with the company’s services.