Apple had their quarterly earnings call yesterday where they announced record first quarter results. The company posted all-time record quarterly revenue of $78.4 billion (compared to $75.9 billion in Q1 2016) and all-time record quarterly earnings per diluted share of $3.36 (compared to $3.28 in Q1 2016).
iPhone and Mac sales and revenue are up, whereas iPad sales and revenue is down compared to the year-ago quarter. Revenue from Apple’s Services business and from Other Products (includes Apple Watch and Apple TV) are also up.
During the earnings call, Brian White from Drexel asked,
I didn’t hear much mentioned about India. How did India perform with the iPhone, and how should we think about it for 2017, especially with the 4G network going up?
That’s a really good question. Despite the de-monetization move in India that created lots of economic pressure there last quarter, despite that, we had all-time record revenue results. And so we were very happy about that. The de-monetization impact has not worked its way through yet; it’s still definitely having some overhang, but I think in the longer term, it’s a great move. I feel really good about how we’re doing there. We are in discussions on a number of things, including retail stores and fully intend to invest significantly in the country and believe it’s a great place to be.