One year ago, in the first quarter of 2016, Apple reported a record-breaking profit: $18.4 billion on $75.9 billion in revenue. That was great news, but setting the bar so high was a mixed blessing—Apple’s huge uptick in growth ended there, with declining iPhone sales and profits in the three quarters since.
But the company turned that around with the iPhone 7 and 7 Plus, Apple CEO Tim Cook said in Apple’s Q1 earnings report on Tuesday. The company broke its own record with $78.4 billion in revenue for the quarter ending December 31—and $54.3 billion of that came from iPhones, of which Apple sold 78.3 million. That’s another record, in case you were wondering.
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