Apple revenue returns to growth

The manufacturer reported net sales of $78.4bn (£62.3bn) up three per cent year-on-year

Apple has returned to growth after three consecutive quarters of decline recording $78.4 billion (£62.3 billion) in the three months up to December 31 2016.

The quarter is the first full quarter since the iPhone 7 launch, with the iPhone 7 range selling 78.3 million in the festive period. Chief executive Steve Cook said: “We sold more iPhones than ever before,” and the iPhone 7 Plus was in high in demand.

iPhone sales contributed $54.3bn, along with $7.2bn from the Mac, $5.5bn from the iPad and $4.0bn from other products, including the Apple Watch.

Cook also said Apple had: “set all-time revenue records for iPhone, Services, Mac and Apple Watch”, revealing a booming services business, including Apple Pay, Apple Music and the App Store, all of which attributed $7.2 billion (£5.7 billion) in revenue, an 18 per cent increase from a year ago.

Breaking “multiple records”

Last October the company reported decline in sales and profit in 15 years with iPhone sales dropping by five per cent and smartphone sales down nine per cent.

Cook said: “We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way.”

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