Apple today reported its Q4 FY18 earnings, and it turned out to be a record-breaking quarter for the company.
Apple says that it sold 46.9 million iPhones during Q4 2018, up slightly from 46.7 million in Q4 2017. iPad sales weren’t so lucky, slipping slightly year-over-year to finish at 9.7 million units sold in Q4 2018. Mac sales fell a bit as well, finishing at 5.3 million units.
Services revenue for the quarter finished at $10 billion, up from $8.5 billion in Q4 2017. The Services category includes digital content and services, AppleCare, Apple Pay, licensing, and other services. Apple’s Other Products category grew as well, going from $3.2 billion in revenue in Q4 2017 to $4.2 billion in Q4 2018. The Other Products category includes sales of AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
Quarterly revenue finished at $62.9 billion, up from $52.6 billion one year ago. Service revenue finished at $10 billion, which Apple says is an all-time high. Finally, Apple’s net income for Q4 2018 finished at $14.1 billion, which is up from $10.7 billion in the year-ago quarter.
Here’s what Apple CEO Tim Cook had to say about these results:
“We’re thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our 2 billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple’s history. Over the past two months, we’ve delivered huge advancements for our customers through new versions of iPhone, Apple Watch, iPad and Mac as well as our four operating systems, and we enter the holiday season with our strongest lineup of products and services ever.”
While iPhone sales stayed mostly flat, Apple’s revenue from iPhone sales grew 29 percent year over year to finish at $37.2 billion. That ASP increase suggests that people were paying more for their iPhones, like the iPhone X and iPhone XS, which the company is probably happy about.
Apple will discuss its earnings and take questions from analysts this afternoon, and we’ll report back with any interesting info that the company has to share.
UPDATE: Apple revealed that starting in December, it will no longer report unit sales for iPhone, iPad, or Mac, explaining that it doesn’t feel that the number of units that it sells in a 90-day period is a good indicator of the strength of its business.