Apple News: Revenue Up 12% and EPS Up 24% Reaching New Records
On Nov 2, Apple announced financial results for the fourth quarter of 2017 ending September 30, 2017 with strong earnings and profit.
Apple posted $52.6 billion in quarterly revenue, increasing 12% from last year at the same time and quarterly earnings of 24% for diluted share of $2.07. International revenue accounted for as much as 62% of revenue. Apple had the highest earnings in its Service division this past quarter.
Apple has accelerated growth year on year. As Luca Maestri, Apple’s CFO explains, “We also generated strong operating cash flow of $15.7 billion and returned $11 billion to investors through our capital return program.”
CEO Tim Cook also announced, “We’re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services.” The company is looking forward to increased sales during the holiday season from the iPhone X to iPhone 8 and iPhone 8 Plus as well as the Apple Watch Series 3 and Apple TV 4k.
Apple’s investor webcast that occurred on Nov 2, 2017.
With the launch of the Macintosh in 1984, Apple changed the world and personal technology. Since that time, Apple has now revolutionized entire industries from technology to personal productivity, music, entertainment and more. Apple’s iPhone is considered a game changer in the cellular smartphone industry as well as a dramatic catalyst for change in business.
Apple’s board of directors offered a cash dividend of $0.63 per share of the Company’s common stock. The dividend was payable on November 16, 2017 to shareholders of record as of the close of business on November 13, 2017.
In terms of its fiscal 2018 first quarter, Apple offers the following guidance:
- revenue between $84 billion and $87 billion
- gross margin between 38 percent and 38.5 percent
- operating expenses between $7.65 billion and $7.75 billion
- other income/(expense) of $600 million
- tax rate of 25.5 percent