3.8m iPhone sales boost Apple's Q1 profit

Apple shipped 3.79m iPhones in Q1 to lift earnings 16%, well ahead of forecasts, the company announced  Wednesday.

Strong demand for the iPhone drove revenue up 7.9% to $8.16 billion as it posted a $1.21 billion profit.

By contrast, Macintosh sales were off 3% to 2.22 million, while iPod shipments grew 3% to 11.01 million. 

Apple\'s iPhone shipments were up 123% year-on-year, helping the company to what CFO Peter Oppenheimer called "the best non-holiday quarter revenue and earnings in our history."
 
He forecast revenue in the range of $7.7 billion to $7.9 billion in the next quarter.

Apple\'s results easily outperformed analysts\' estimates.

Apple shares on the Nasdaq rose 2.3% to $124.30 in after hours trading yesterday.

AT&T said  yesterday it had signed more than 1.6 million iPhone subscribers, of whom 40% were new to the company, in the first quarter.  Wireless data revenues rose 38% and now account for 27.2% of total wireless service revenues.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.