Apple has announced its first fiscal quarter 2016 results, these results cover the three month period up until the 26th of December 2015.
Once again Apple has posted a record quarterly revenue of $75.9 billion with a net income or the quarter of $18.4 billion.
This compares to $74.6 billion and net income of $18 billion for the same quarter in 2014, they also announced that they have increased their gross margin to 40.1 percent, up from 39.9 percent in the same quarter in the previous year.
Apple also announced that they sold a total of 74.8 million iPhones for the quarter, this is up again from the same quarter in 2014. iPad sales for the quarter stood at 16.12 million and Mac sales stood at 5.31 million, the company has not revealed any information on how many Apple Watch units they have sold.
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.”
Many analysts were expecting iPhone sales to be higher than the numbers announced, Apple managed to slightly increase sales of their most popular product over the same quarter in the previous year. This has lead to speculation that their iPhones sales are slowing down.
Personally I don’t think Apple has anything to worry about just yet, the new iPhone 7 will be out later this year, and many people who did not upgrade from the iPhone 6 to the iPhone 6S will probably buy the new model.
Apple are also expected to introduce a cheaper iPhone in the form of the iPhone 6C or iPhone 5se, this should also help the company increase sales of the handset through 2016.
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