Enlarge / iPhone growth helped propel Apple to a much-improved Q1 of 2017. (credit: Andrew Cunningham)
Apple has just released its earnings report for the first quarter of fiscal 2017, which runs from the beginning of October to the end of December. Things are off to a solid start after a weak 2016—total revenue, iPhone sales, Mac sales, and services all did well, and Apple CEO Tim Cook claimed it was the Apple Watch’s best quarter ever as well. Profit, iPad sales, and sales in China were all down, but they’re the only dim spots.
Apple made $17.9 billion in profit and $78.4 billion in revenue, compared to $18.4 billion in profit and $75.87 billion in revenue in Q1 of 2016. The company’s gross margin was 38.5 percent.

These results beat Apple’s guidance for the quarter, which predicted revenue between $45.5 billion and $45.7 billion and a profit margin between 37.5 and 38 percent.
The company predicts that it will make between $51.5 and $53.5 billion in the second quarter of fiscal 2017, with profit margins between 38 and 39 percent. These numbers compare favorably to the $50.6 billion the company made in Q2 of 2016, though they’re still below the $58 billion that Apple made in Q2 of 2015.
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