The California-based technology giant reported that profit climbed to $20 billion (roughly Rs. 1.28 lakh crores) on revenue that increased 13 percent to $88.3 billion (roughly Rs. 5.66 lakh crores) during the period.
“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup,” said Apple chief executive Tim Cook.
“iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.”
However, Apple reported that overall iPhone sales in the quarter of 77.3 million were about a million fewer than the same period a year earlier.
But iPhone revenues rose 13 percent from a year ago, suggesting its newer models were gaining traction.
The earnings — for the first quarter of Apple’s financial year — come amid concerns over weak demand for the newest and most expensive iPhone X, the 10th-anniversary edition of the iconic smartphone.
Revenue growth from iPhone sales rose in all regions, and it was the top-selling smartphone overall in mainland China, according to Cook.
“It was a stellar quarter for iPhone,” Cook said.
“iPhone X was the most popular.”
Apple also forecast revenue of between $60 billion (roughly Rs. 3.84 lakh crores) and $62 billion (roughly Rs. 3.97 lakh crores) in the current quarter, an outlook less rosy than analysts had expected.
Apple shares dipped and then rose more than three percent to $173.40 (roughly Rs. 11,115) in after-market trades that followed release of the earnings figures.