Apple celebrated a record-breaking holiday season selling 74.8 million iPhones. The numbers resulted in a net revenue of $74.9 billion which earned the company around $18.4 billion in profits.
“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,” said Tim Cook, Apple’s CEO. “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.”
What’s more is that international sales accounted for more than 66% of the total revenue. Apple also reported that the iPhone sales in India were up by 76% while revenue in China was up by 16%. The company generated operating cash flow of $27.5 billion during the quarter, and returned over $9 billion to investors through share repurchases and dividends.
The Cupertino Giant sold 5.3 million Macs, down 4% from 5.5. million a year ago. iPad sales were also down year over year at 16.1 million units, a decline of 25%. Interestingly, the company bundles the Watch and TV sales together along with Beats accessories in the category of Other Products.
The iPhone sales may look strong going by the numbers but the sales have taken a toll. Last year, for the same quarter, the company sold 74.5 million iPhones. Tim himself predicts that the sales will slow down this quarter.