Apple forecast its revenue in the current quarter will reach between 51.5 billion and 53.5 billion US dollars, which would represent a year-on-year increase of between 12% and 18%.
For the quarter ending March 31, revenue rose 16% to 61.1 billion dollars, fuelled primarily by a 14% rise in iPhone revenues, even though shipments rose just 3%. Some of the difference is due to the high price of the latest model, the iPhone X, and Apple may also have benefitted from exchange rate movements.
Tim Cook, Apple’s CEO, said. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.” Service revenue, which includes revenue from digital content and services, AppleCare, Apple Pay and licensing, rose 31% to 9.2 billion dollars. source: Apple statement
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