Apple: Another positive quarter and record levels of revenue
Tonight Tim Cook and Luca Maestri reported on Apple’s revenue for the first quarter of the new financial year. Naturally, new records were set.
The values for the first quarter of 2016 were presented and once again Apple beat its old revenues record and set a new one. A total of $75.9 billion dollars, which is 1.3 more than last year. Net profit amounted to 18.4 billion dollars and the available funds raised to 216 billion dollars. It is, by the way, $5 billion more than in the previous quarter and $63 billion more than a year ago. Despite having less sales, Apple managed to maintain its growth overcome the values of the past quarter.
Regarding sales, everything is stable. iPhone again showed growth – 74.8 million devices were sold worldwide. Curiously, sales of smartphones are growing since its launch in 2007. Truly incredible result, though Tim Cook has already declared that it doesn’t last forever and we must understand that Apple will not be able to always keep this level. According to the CEO, the company expects a significant drop in sales in the next quarter. The company expects to have a revenue that will be between $50 and $53 billion dollars, representing a decrease, something that might happen for the first time since 2013.
The bad news remains when we look at the iPad sales, which amounted to only 16.1 million units, representing a decrease of 25% compared to 2015. The Mac sales also decreased by 4%, with 5.3 million units sold. About the iPod and Apple Watch Cook didn’t presented any results, just stated that they have sold “a lot” of watches. Apple Watch, Apple TV and iPod were included into the newly created category “other devices”. This category in total had revenues of 4.4 billion dollars and an increase of 44%.
Service category also gave a boost to Apple’s revenue, with a growth of 20% and a cash inflow of $6.1 billion dollars.
Apple’s full financial report for the first quarter can be found here.
Billion Active Devices
In addition to the values for the first fiscal quarter of 2016, Apple also represented another number that shows the popularity of Apple products.
According to Apple the company currently has over one billion active devices. This number represents the different equipment that in last 90 days were linked to the Apple services. There we can find the iPhone, iPad, Mac, iPod touch, Apple TV and Apple Watch.
- Currently Apple has a total of one billion of active devices
- The number of apps for Apple TV is more than 3500
- Revenue in China doubled, also revenues in India are growing
- 2/3 of Apple’s revenue coming from outside the US
- During the last quarter the largest amount of people for all-time competition between platforms switched from Android to iOS