Apple sells 74.8M iPhones, rakes in $75.9B in revenue in company's biggest quarter ever
The 2015 holiday shopping season was the biggest quarter in Apple's history, with profits of $18.4 billion earned thanks to yet another record performance for the iPhone.
Apple's $18.4 billion in profit came from $75.9 billion in revenue. As usual, Apple's success was driven by the iPhone, which sold a record 74.8 million units in the first quarter of fiscal 2016.
That means iPhone sales continued their trend of year over year growth, which has occurred every quarter since the product launched in 2007. In the same quarter a year ago, Apple sold 74.5 million iPhones
"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."
Mac sales for the quarter reached 5.3 million units, which was down 4 percent year over year. And the iPad saw 16.1 million units sold, a 25 percent decrease from the same period a year ago.
Gross margin was 40.1 percent, compared to 39.9 percent in the year-ago quarter. Earnings per share was $3.28, up from $3.06 a year ago.
International sales accounted for 66 percent of the quarter's revenue.
"Our record sales and strong margins drove all-time records for net income and EPS in spite of a very difficult macroeconomic environment," said Luca Maestri, Apple's CFO. "We generated operating cash flow of $27.5 billion during the quarter, and returned over $9 billion to investors through share repurchases and dividends. We have now completed $153 billion of our $200 billion capital return program."
Looking ahead to its second quarter of fiscal 2016, Apple is projecting revenue between $50 billion and $53 billion, with gross margins between 39 and 39.5 percent. Operating expenses are expected to be between $6 billion and $6.1 billion, with other income of $325 million, and a tax rate of 25.5 percent.
Apple's $18.4 billion in profit came from $75.9 billion in revenue. As usual, Apple's success was driven by the iPhone, which sold a record 74.8 million units in the first quarter of fiscal 2016.
That means iPhone sales continued their trend of year over year growth, which has occurred every quarter since the product launched in 2007. In the same quarter a year ago, Apple sold 74.5 million iPhones
"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."
Mac sales for the quarter reached 5.3 million units, which was down 4 percent year over year. And the iPad saw 16.1 million units sold, a 25 percent decrease from the same period a year ago.
Gross margin was 40.1 percent, compared to 39.9 percent in the year-ago quarter. Earnings per share was $3.28, up from $3.06 a year ago.
International sales accounted for 66 percent of the quarter's revenue.
"Our record sales and strong margins drove all-time records for net income and EPS in spite of a very difficult macroeconomic environment," said Luca Maestri, Apple's CFO. "We generated operating cash flow of $27.5 billion during the quarter, and returned over $9 billion to investors through share repurchases and dividends. We have now completed $153 billion of our $200 billion capital return program."
Looking ahead to its second quarter of fiscal 2016, Apple is projecting revenue between $50 billion and $53 billion, with gross margins between 39 and 39.5 percent. Operating expenses are expected to be between $6 billion and $6.1 billion, with other income of $325 million, and a tax rate of 25.5 percent.
Comments
Doomed™
LOL
Just do not have the year (or two) over year upgrades like the iPhone has.
Of ourse, they got 18 billion in profits with sucky iPad sales.
For year 2015, 3 month ending in March Apple had posted quarterly revenue of $58 billion.
For year 2016, 3 months ending in March Apple is forecasting quarterly revenue of $50-$53 billion. (Mid point $51.5 which is down for $58 billion)
That points to over 11% quarter over quarter revenue decline despite adding lot more service revenue streams.
Can't wait for some good Car or some other big announcement to get stock back up.
I guess for now, it's in hold period until something big comes along.
This was expected until something big comes along. Service revenue are not making much dent and now the iPhone revenue is in declining mode from next quarter.
/s
Well done, Apple.
Strange headline. Not a great quarter and next quarter shows the expected decline guessed at by the supply chain insiders.
My however I think that the new 4" models will sell very well.
Even with current headwinds, I can see over 10% decline in pure iPhone revenue, as you have to add new Service revenue streams.
iPads ain't phones. The market is by now saturated with them, and older models are still going strong.
And the largest iPhone naturally eats into iPad sales. Pretty sure Apple is just fine with that.
But even in 2016, there are still many who don't understand Apple. Which is fine, because this crowd is most amusing come quarterly report time.
Sales: +1.7%
iPhone units: +0.4%
iPad units: -24.7% (Considering new iPad Pro release)
Sales in China climb 14% year-over-year to $18.37 billion,
Japan down 12%,
Americas down 4%
They are still the most profitable PC maker but those sales were off also.
If Apple is experiencing difficulty with sales and profits, the rest of the industry is in far greater distress.
You'd better brace yourself for a bit of a stock thumping over the coming weeks.