Apple posts Q1 revenue of $88.3 Billion, has 1.3 Billion active devices installed

Apple today announced its financial results for fiscal 2018 first quarter ending December 30, 2017. Historically Apple's stringest quarter, this one saw a revenue of $88.3 billion, a 13 per cent increase from a year ago quarter. International sales hit a record while accounting oe 65 per cent of the quarter's revenue.

“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years.”

Not all the news was good, however. iPhone sales dropped a notch. Apple sold  77.3 million iPhones in its fiscal year Q1, down 1.3 percent compared to the 78.3 million sold one year ago. This is with both the iPhone 8 and iPhone X in the mix. This is the first time since 2007 that the iPhone has seen a drop in sales in the holiday quarter. Mac sales went down by three per cent with 5.1 million sales and iPad sales were up.