If the iPhone X is slumping, it’s sure not affecting Apple’s bottom line. In the quarter ending December 31, 2017, Apple reported a record revenue of $88.3 billion, a 13 percent increase over last year’s $78.4 billion (which was also a record). Additionally, Apple posted an all-time record quarterly earnings per diluted share of $3.89. And that's with one less week of sales over last year's first quarter.
Leading the way was the iPhone, but not due to unit sales. Apple moved 77.3 million iPhones in the three-month holiday quarter, about a million less than last year, but revenue grew by more than $7 billion to $61.6 billion. While Apple didn’t break out the different models of iPhone, it’s clear that the higher price of iPhone X contributed to the gains. Tim Cook said the newly redesigned handset “surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.”
