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Apple revenue grows by 16% YoY to $61.1 billion in Q4FY18

Apple has posted quarterly revenue of US $61.1 billion in the last quarter of financial year 2018 (Q4FY18), an increase of 16% from the year-ago quarter, and quarterly earnings per diluted share of $2.73, up 30%. International sales accounted for 65% of the quarter’s revenue, Apple said. Of these, iPhone revenue were up by 14%, services up 31% and wearables up almost 50%. iPhone specifically performed well, $100 billion in revenues in the fiscal half, an increase of $12 billion over last year. According to CEO Tim Cook, customers chose iPhone X more than any other iPhone each week in the March quarter. He added that this is the first cycle in which the top of the line iPhone model has also been the most popular, since Apple split the line with the launch of iPhone 6 and 6 Plus in 2014. Geography-wise, Greater China and Japan performed well, with revenue up by more than 20%. On being asked about the Indian market, Cook said that as it is the third largest smartphone market in the world, there's huge opportunities, and that Apple has an extremely low share in that market overall. He added that the company is putting a lot of energy there and working with the carriers, who are investing in LTE networks. Apple's objective for the Indian market is to go in with all of its initiatives. “Our Board has approved a new $100 billion share repurchase authorization and a 16 percent increase in our quarterly dividend,” Luca…

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