Apple has announced that it posted all-time record quarterly revenues of US$78.4 billion and all-time record quarterly earnings per diluted share of US$$3.36 for its fiscal 2017 first quarter ended December 31, 2016. International sales accounted for 64% of the quarter's revenues.

"We sold more iPhones than ever before and set all-time revenue records for iPhone, services, Mac and Apple Watch," said CEO Tim Cook.

Shipments of iPhone devices totaled 78.3 million units in the first quarter of fiscal 2017 with an ASP of US$695 compared to US$691 of a year earlier. iPhone revenues totaled US$54.4 billion in the quarter.

Service revenues grew 18.4% on year to US$7.17 billion, while sales of Mac products expanded 7% to US$7.2 billion, the company said.

Shipments of iPad devices declined 19% on year to 13.08 million units valued at US$5.5 billion, down 22% from a year earlier.

Apple expects its revenues for the second quarter of fiscal 2017 to reach US$51.5-53.5 billion, with a gross margin of 38-39%. Operating expenses for the quarter will total US$6.5-6.6 billion.