Apple closes its first quarter with $ 88.3 billion in revenue and $ 20.1 billion in profits

Apple closes its first quarter with $ 88.3 billion in revenue and $ 20.1 billion in profits 

Apple officially unveiled its financial results for the first quarter of 2018, posting record revenues of $ 88.3 billion and net profit exceeding $ 20 billion.

The company sold 77.316 million iPhone phones during that period, achieving the highest revenue in its history of smart phone sales. It also sold 13.170 million iPads and 5.112 million desktop PCs and laptops.

Tim Cook, the company's chief executive, said Apple was delighted to announce the highest revenue in its history in conjunction with the highest growth in sales of iPhone phones. He added that "iPhone X" exceeded sales in the expectations of everyone and succeeded in being the best phone launched by the company since November. He also announced the arrival of the total number of the company's currently operating 1.3 billion devices around the world.

Apple expects revenue of $ 60 to $ 62 billion in the second quarter, which expires at the end of March.

Posted in: Tech Current Affairs