Apple reported spectacular results for third-quarter fiscal 2017, driven by the impressive Service segment performance. iPhone sales were also steady in the quarter.
Earnings of $1.67 per share and revenues of $45.4 billion surpassed the Zacks Consensus Estimate of $1.57 and $44.7 billion, respectively. On a year-over-year basis, earnings grew 17.6% and revenues increased 7.2%.
Total iPhone unit sales came in at about 41 million, up 2% year over year. Revenues from iPhone grew 3% from the year-ago quarter to $24.8 billion (54.7% of total revenue).
Services revenues - including revenues from Internet Services, App store, Apple Music, AppleCare, Apple Pay, and licensing and other services - surged 22% year over year to nearly $7.3 billion. App Store sales were a big contributor. The company remarked that it is now the size of a Fortune 100 company, much earlier than the company expected. Across the segment, the number of paid subscribers grew 20 million to a total of 185 million in the last three months.
Apple sold 11.4 million iPads in the quarter, up 15% year over year. Revenues of $5 billion were up 2% from the prior-year quarter.
Apple Mac unit sales were up 1% year over year to approximately 4.3 million, while revenues grew 7% from the prior-year quarter to $5.6 billion.
Other products - including revenues from Apple TV, Apple Watch, Beats products, iPod, and Apple-branded and third-party accessories - increased 23% year over year to over $2.7 billion.
Earnings of $1.67 per share and revenues of $45.4 billion surpassed the Zacks Consensus Estimate of $1.57 and $44.7 billion, respectively. On a year-over-year basis, earnings grew 17.6% and revenues increased 7.2%.
Total iPhone unit sales came in at about 41 million, up 2% year over year. Revenues from iPhone grew 3% from the year-ago quarter to $24.8 billion (54.7% of total revenue).
Services revenues - including revenues from Internet Services, App store, Apple Music, AppleCare, Apple Pay, and licensing and other services - surged 22% year over year to nearly $7.3 billion. App Store sales were a big contributor. The company remarked that it is now the size of a Fortune 100 company, much earlier than the company expected. Across the segment, the number of paid subscribers grew 20 million to a total of 185 million in the last three months.
Apple sold 11.4 million iPads in the quarter, up 15% year over year. Revenues of $5 billion were up 2% from the prior-year quarter.
Apple Mac unit sales were up 1% year over year to approximately 4.3 million, while revenues grew 7% from the prior-year quarter to $5.6 billion.
Other products - including revenues from Apple TV, Apple Watch, Beats products, iPod, and Apple-branded and third-party accessories - increased 23% year over year to over $2.7 billion.