Apple has posted revenues of $52.9 billion for the first quarter of the year, as against $50.56 billion a year earlier, marking an increase of more than 4.5 per cent year-on-year, a report said.

However, the technology giant also posted a 1.1 per cent drop in sales iPhones in the second financial quarter of 2017 (ended on April 1) in comparison with the same period of 2016, reported the Russian news agency TASS, citing the company's financial report published on Tuesday.

International sales accounted for 65 percent of the quarter’s revenue.

“We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus,” said Tim Cook, Apple’s CEO.

“We’ve seen great customer response to both models of the new iPhone 7 Red Special Edition and we’re thrilled with the strong momentum of our services business, with our highest revenue ever for a 13-week quarter. Looking ahead, we are excited to welcome attendees from around the world to our annual Worldwide Developers Conference next month in San Jose.”