Apple last night announced financial results for the first quarter of its 2016 fiscal year. The company had another banner quarter with record revenues and net income. Quarterly revenues came in at US$75.9 billion and recorded a quarterly net income of US$18.4 billion.
“Our team delivered Apple’s biggest quarter ever, thanks to the world’s most innovative products and all-time record sales of iPhone, Apple Watch and Apple TV,” said Tim Cook, Apple’s CEO. “The growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices.”
Despite setting more records, there are signs that Apple will be hard pressed to set new ones in upcoming quarters. Apple sold 74.78 million iPhones this quarter, only na slight 0.4% increase over the same quarter a year ago. Mac Sales were down slightly to 5.3 million and iPad sales also fell – from 21.4 million to 16.1 million year over year. The company has yet to provide any Apple Watch sales numbers. It only said that its “other products” category, which includes everything from the Apple Watch to iPods, AppleTV and accessories, added US$4.3 billion to its bottom line. According Juniper Research, Apple sold 8.89 million Apple Watches in 2015, enough to take a 52% market share in this nascent product category.
On the analyst call that followed the announcement, Apple CEO Tim Cook announced that there are now more than 1 billion active Apple devices across the world. Unfortunately, it’s not clear how many are Apple Watches.
Source : Apple