Rises in Christmas revenue at global tech giants
PUBLISHED: 08:59 02 February 2018 | UPDATED: 08:59 02 February 2018
The world's biggest technology giants have reported a bumper Christmas.
Apple reported record revenues and profit in the last three months despite a fall in iPhone sales over the Christmas period.
Its latest quarterly financial results report revenue of $88.3bn (£61.9bn), up from $78.4bn (£55bn) in the same period last year, while profits hit a record high of $20.1bn (£14bn.
The report says Apple sold 77.3 million iPhone devices in the final three months of 2017, down on the 78.3 million in the same period in 2016.
This is despite the launch of the iPhone X in November, which featured the device’s first all-screen front panel and facial recognition technology.
It is the most expensive iPhone ever made by Apple, starting at £999, and even though sales fell short this higher price led to a rise in profit.
Amazon sales increased by 38% in the last three months of 2017, to more than $60.5bn (£42.4bn).
The US firm’s quarterly financial results also reported a 69% increase in operating income, rising to $2.1bn (£1.47bn) compared with $1.3bn (£910m) for the same period last year.
The figures were just above analyst expectations for the company’s performance.
Having started life as an online shopping platform, the firm has become increasingly known for its technology hardware and software – most notably its Amazon Echo line of smart speakers, which are powered by virtual assistant Alexa.
Google parent company Alphabet reported a steady revenue increase for the three months to December 31, up by 24% year-on-year to 32.3 billion dollars (£22.6bn).
The vast majority of Alphabet’s revenue continues to come from Google and its various business, most notably its advertising network, but the company’s so-called “other bets” saw revenues rise from $262m (£183m) last year to $409m (£286m) in the last quarter.
The technology giant also confirmed current board member John Hennessy has been named Alphabet chairman following the departure of Eric Schmidt in December.