Apple CEO Tim Cook confirmed that the Apple Watch sales have almost doubled over the past year thereby making the wearable business one of the Company's fastest growing segment.
Revenue rose 4.6 percent to $52.9 billion in the quarter.
Apple sold fewer iPhones than a year ago in the first three months of 2017, the company said in its latest results.
The company is investing heavily in India, the third largest smartphone market in the world behind China and the US, Cook said, as he revealed that Apple set a new March quarter revenue record in the country, growing by double digits.
Gross margin for the quarter was 38.9 percent compared to 39.4 percent in the year-ago quarter, with global sales accounting for 65 percent of revenue. This accounted for $33.25 billion in revenue or 63 percent of the total.
Cook also said that seven out of 10 of Apple's "most trafficked" stores are in "Greater China", which includes China's Taiwan and Hong Kong.
Yesterday we debated whether interest in the Apple Watch is falling, but Tim Cook says that sales have doubled over the previous year.
Although disappointing iPhone sales had investors somewhat dejected after expectation of strong earnings.
The hysteria from the evangelists is even more hyperbolic than it usually is because this year marks the tenth anniversary of the company's flagship product.
Shares of the world's most valuable listed company were down two per cent at $144.40 United States in after-hours trading. Unlike Samsung, Apple has been slow to switch to OLED displays, which are more power efficient and produce a wider colour gamut and dynamic range compared to traditional LCD panels.
Business Insider delved into these comments by Cook to shed light on just how much money that means Apple is generating.
Well iPad sales continue to decline year-on-year with 8.9 million units shipped in the quarter. Mac sales grew slightly, rising from 4.03 million to 4.19 million for the period.
As usual, Apple did not break down the numbers of Apple Watches sold.