Apple reported a 17% year-on-year increase in revenues for the quarter ending March 28th to 111.2 billion US dollars, driven by a 22% leap in iPhone revenues and a 16% rise in services revenues. However, Apple's R&D spending rose 32% year-on-year to 11.4 billion dollars.
Apple said it expects total revenue to rise between 14% and 17% in the current quarter, despite supply constraints. Source: Apple statements
