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What Countries Drove Apple’s Revenue in Fiscal 1Q18?

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Revenue growth in all regions

As we can see in the chart below, Apple (AAPL) achieved YoY (year-over-year) revenue growth in fiscal 1Q18 in each of its geographic regions. The Americas continued to be the major generator of revenues in the quarter, with $35.2 billion (or 40%) of its total revenue. Revenue from the Americas rose 10% YoY, from $32 billion in fiscal 1Q17.

Revenues generated from Europe (EFA) rose 14% YoY to $21 billion, while revenues from Japan rose 26% YoY to 7.2 billion in fiscal 1Q18. The rest of the Asia-Pacific region saw revenue growth of 17% YoY in fiscal 1Q18 since sales rose to $6.9 billion, from $5.9 billion in fiscal 1Q17.

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Revenue from China continued to rise in fiscal 1Q18

Apple’s revenue from Greater China rose 12% YoY to $18 billion in fiscal 1Q18, from $16.2 billion in fiscal 1Q17, after seven consecutive quarters of decline. Greater China’s revenues accounted for 20.3% of Apple’s total revenues. The Greater China region includes revenues from China (FXI), Hong Kong, and Taiwan.

China was Apple’s second-largest market after the United States after the launch of its iPhone 6 series. However, competition from domestic smartphone players Huawei, Xiaomi, OPPO, and vivo have significantly impacted Apple’s market share.

Apple’s chief financial officer Luca Maestri stated, “In Greater China, we were very happy to generate double-digit revenue growth for the second quarter in a row and in emerging markets outside of Greater China, we saw 25% year-over-year growth.”

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