Apple has announced the financial results for its fiscal first quarter of 2018 today, follows the conference call, CEO Tim Cook, and CFO Luca Maestri hopped on a conference call to talk about Apple’s performance. And here are some insights from the earnings call.
First off, Apple Watch, the company's popular wearable devices, saw its best quarter ever, with the new Series 3 models selling as twice as the volume of the Series 2 last year. Apple Watch saw a 50% growth in units and revenue for the fourth consecutive quarter.
Secondly, Apple CEO Tim Cook said that the iPhone X has "surpassed our expectations" and has been the "top-selling iPhone" every week since it shipped in November. Although Apple doesn't break down iPhone sales by model, the company did disclose they sold 77.3 million iPhones in total.
In the meantime, Apple's services category continues to grow rapidly, including iTunes, the App Store, Apple Music, iCloud, Apple Pay, and AppleCare, saw revenue of $8.5 billion, up 18 percent year over year,
Lastly, Apple's Apple Pay is set to expand to a Brazil later this year, Tim Cook revealed the plan. While Apple didn't provide an exact date for the launch of Apple Pay in Brazil, Cook did say it would come soon. Apple also saw its best-ever quarter in Q1 2018 for Apple Pay.
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