Apple revenues surge despite shifting almost 1 million less iPhones in Q1

iPhone unit sales dropped one per cent in the three months to December despite the launch of the iPhone X

Apple enjoyed a rise of $9.9 billion (£6.9bn) in overall revenue throughout the first quarter of its financial year.

Revenues for iPhone grew 13 per cent to $61.6 billion (£43.3bn) in the first quarter that the iPhone X was on sale despite selling 974,000 less handsets.

iPhone accounted for 69.7 per cent of total revenues, stagnating year on year despite being the highest total revenue from iPhone in the companies history as the Californian giant eyes Q2 revenues of $60Bn to $62Bn billion (£42.2Bn to £43.6Bn).

Commenting on the results Apple CEO Tim Cook said: “We’re thrilled to report the biggest quarter in Apple’s history, with broadbase growth that included the highest revenues ever from a new iPhone line up.

“iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.”