Apple reports $13.8 billion profit on $61.1 billion revenue in FY Q2 2018, 52.2 million iPhones sold

Apple has reported quarterly revenue of $61.1 billion, up 16% over last year with a record Q2 net profit of $13.8 billion, up 25.4% YoY in their earnings for the financial year Q2 2018 that ended March 31, 2018. During earnings call Tim Cook said that the growth was broad-based, with iPhone revenue up 14%, services up 31% and wearables up almost 50%. He said that the company grew in each of its geographic segments, and in Greater China and Japan, revenue was up more than 20%. Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. "Since we split the line with the launch of iPhone 6 and 6 Plus in 2014, this is the first cycle in which the top of the line iPhone model has also been the most popular," said the CEO. Q2 was the company's best quarter ever for services with $9 billion revenue, up more than $2 billion over last year's March quarter. Apple also posted all-time record revenue from the App Store, from Apple Music, from iCloud, from Apple Pay and more. Across all its services, paid subscriptions surpassed 270 million, ...