Apple announces all-time record quarterly revenue of $78.4 billion

By Gadjo Cardenas Sevilla

Apple hosted its Q2 2017 Earning's Call this afternoon and announced a revenue of $78.4 billion as a result of  'iPhone, Services, Mac and Apple Watch setting All-Time Records.' These results compare to revenue of $75.9 billion and earnings per diluted share of $3.28 in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.

Apple sold 78.3 million iPhones which is an all-time reacord and up 5 per cent year over year. Apple CEO Tim Cook noted that there was a preference for the larger iPhone 7 Plus model and it considerably outsold the iPhone 6S from a year ago. The iPhone remains Apple's strongest product. 

"We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch,” said Tim Cook, Apple’s CEO. “Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline.”

Cook also covered Apple Watch, saying that it was the 'gold standard for smartwatches,' while Apple didn't disclose actual unit sales of Watch, Cook mentioned that demand was so high that the company was barely able to produce enough to meet demand. Also mentioned by Cook were the AirPods, which he said rounded out the company's wearable offerings and which were also well received even as they remain scarce. 

Apple services such as iTunes and the App Store continue to grow and, if it were a standalone business, would land on the Fortune 500, according to Apple. It is clear that services have managed to push Apple's overall revenue even as it tries to field new products and categories to create business and growth.