Apple reported revenue of $61.1 billion for its second fiscal quarter in 2018, attributing growth to iPhone popularity and expansion in both China and Japan.
This was the best March quarter ever for Apple in terms of revenue, the company reported on Tuesday. Revenue increased 16 percent over the same quarter last year and quarterly earnings per diluted share were up 30 percent.
Solve For IPhone X
IPhone sales attributed to most of Apple’s income last quarter, at $38.03 billion. Apple CEO Tim Cook attributed the company’s success to its $1,000 iPhone X, which proved to be the most popular model in the month of March. Overall, the company sold 52.2 million iPhones, 9.11 million iPads and 4.08 million Mac computers.
Cook told investors that Apple grew revenue in all of its geographic segments, with over 20 percent growth in Greater China and Japan. This growth is reflected in Apple’s quarter revenue—22 percent originated from Japan and 21 percent from Greater China, compared to 17 percent in the Americas.
Q2 2018 marks the third quarter of growth in China after six quarters of double-digit declines. The iPhone X was the most popular iPhone model in China in the last three months.
Steady On The Services
Apple’s services revenue grew 31 percent in the March quarter to $9.2 billion. This category includes the App Store, Apple Care, Apple Pay, iTunes and cloud services.
Last year, Cook said that he wanted to double service revenue—$7.17 billion at the time—by 2020.
Privacy On Point
With Facebook under fire and GDPR around the corner, it’s no surprise that Cook was asked about Apple’s data collection practices.
“Privacy is a fundamental human right,” Cook replied, adding that Apple collects less data than others and keeps most of it, encrypted, on the phone itself.
