Apple sold 52.2 million iPhones during the quarter


Other Apple products like the iPad and Mac brought in a sizable portion of the quarterly revenue, but compared to the previous holiday quarter those products dropped off. Apple's wireless headphones, its new speaker, the HomePod, and the Apple Watch together with other products saw revenue growth, up more than 30 percent from this time past year - though the HomePod wasn't available then. Apple said it will also raise its quarterly dividend by 16% to 73 cents per share in its largest jump in six years.

Total iPhone sales during the quarter, which account for more than 60 percent of Apple's total revenue, rose by 14 percent from past year.

Luca Maestri, the company's CFO, said the business performed "extremely well" during the March quarter, as it grew earnings per share by 30% and generated more than $15bn in operating cash flow.

"We're thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables", Apple chief executive Tim Cook said. The previous best third quarter was 2015, which saw $49.6 billion in revenue. However, Apple beat its second quarter performance from a year ago, when it has shipped 50.7 million iPhones. Revenue for the company topped estimates at $61.1 billion, and earnings per share also came in above expectations at $2.72 a share.

Apple shares surged in after-hours trading in NY despite the world's most valuable listed company missing iPhone sales expectations in its latest results. An expanding Chinese market has helped up drive revenues.

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The iPhone X hasn't led to a boom in the number of phones Apple is selling, but it has kept the company's money-making machine going at full tilt. The company reported growth in all geographic segments including a pop of 20% in Greater China and Japan. Even the Americas showed strong improvement with a 17 percent increase, while Europe (9 percent) and the rest of the Asia/Pacific region (4 percent) were lower but still on the upswing.

Apple's second quarter revenue included $9.1bn from its services business, which includes Apple Music, the App Store and iCloud.

"India, we set a new first-half record". So we continue to put great energy there and our objective over time is to go in there with all of our different initiatives from retail and everything else.

"So we're working toward those things".

The company - which has a cash pile in excess of US$300bn - unveiled a US$100bn share repurchase program and hiked its quarterly dividend by 16% to US$0.73 a share.