Leading the way with better iPad and iPhone sales, Apple on Tuesday posted a quarterly revenue of $45.4 billion -- up seven per cent YoY (year-over-year) -- for the third quarter of 2017.
The company also posted quarterly earnings per diluted share of $1.67. These results compare to revenue of $42.4 billion and earnings per diluted share of $1.42 in the year-ago quarter. International sales accounted for 61 percent of the quarter’s revenue.
“With revenue up seven per cent year-over-year, we are happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue,” said Tim Cook, Apple’s CEO.
The company hosted a successful Worldwide Developers Conference in June, about the advances in iOS, macOS, watchOS and tvOS coming later this year.
The company also returned $11.7 billion to investors during the quarter, bringing cumulative capital returns under their programme to almost $223 billion.
Apple CEO Tim Cook is also planning to build three big manufacturing plants in the US, President Donald Trump has said. Apple generally works with outside suppliers to source parts and currently only Mac Pros are manufactured in the US.
Aiming to support in-house manufacturing efforts, Apple recently invested $200 million in Corning, which supplies cover glass for iPhones.
Earlier Apple stated that the company plans to invest billions of dollars to get a substantial stake in Japan-based Toshiba's chip business to procure a stable supply of memory chips for its iPhones.
Apple revolutionised personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud.
