Apple has just posted its 2016 Q1 results, and it’s been yet another stellar quarter for the company from Cupertino. Amid constant rumors that Apple’s flagship smartphone, the iPhone 6s/6s Plus isn’t doing as well as the company had hoped, Apple has once again produced numbers that its competition can only dream of.
The big numbers that most will care about include a record quarterly revenue of $75.9 billion and record quarterly net income of $18.4 billion. In comparison, the same period a year ago saw revenue of $74.6 billion and net income of $18 billion, meaning Apple has somehow managed to continue its continual improvement year on year.
Gross margin, according to Apple’s press statement, was 40.1 percent compared to 39.9 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue, which is a statistic that some people will find particularly interesting given all the talk about how important countries such as China are to Apple’s bottom line.
This quarter’s numbers are, as mentioned, impressive given the fact analysts predicted that Apple would see its first ever drop in iPhone sales since its launch in 2007 during this period, specifically because iPhone 6s/6s Plus was not deemed worthy of an upgrade to iPhone 6/6 Plus series. In reality, the iPhone actually saw a slight uptick in sales as Apple sold a record 74.8 millions iPhones in last quarter compared to 74.5 million in the year ago quarter, perhaps once again proving that analysts know very little about what Apple is up to. Apple selling 74.8 million iPhones in last quarter means the company sold 34,000 iPhones per hour for 24 hours a day for 13 consecutive weeks!
Apple CEO Tim Cook was understandably rather pleased with his lot. After all, why wouldn’t he be?
“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.”
It’s not all great news for Apple though as iPad and Macs registered yet another year on year decline, with iPad falling from 21.4 million unit sold to 16.1 million despite the introduction of the iPad Pro in the same quarter, and Macs falling from 5.5 million units sold to 5.3 million units sold.
As for the next quarter, Apple is offering guidance to the tune of revenue somewhere between $50 billion and $53 billion, with a gross margin of between 39% and 39.5%.