Apple March quarter report is in, iPhone sales on the rise

Apple published its financial results for the quarter ending in March 2018. In the first three months of the year, the company saw a slight increase in iPhone sales on a yearly basis. Since the launch of the iPhone 8, iPhone 8 Plus and the iPhone X, the MSRP of an Apple phone is a bit higher. That allowed the company to record a healthy 14% increase in revenue.

Overall results are looking good for Apple, where none of the products showed a decline in revenue. Services like AppleCare, Apple Pay and the Digital Content and Services brought $9.1 billion or 31% yearly increase and 8% on a quarterly basis.

Other products like AirPods, Apple TV, Apple Watch, Beats headphones, HomePod, iPod Touch and other Apple-branded and third-party accessories saw an increase of almost $4 billion, 38% more than the same quarter a year ago.

Overall net sales were $61 billion, which after the cost of sales, R&D, administrative expenses and taxes became a net income of $13.8 billion, over 25% more than the $11 billion income for the three months, ending on April 1, 2017.

Source