All-time record revenue for Apple driven by iPhone sales

Apple has posted its latest financial results covering its fiscal 2016 first quarter, which accounted for the three months ending December 26th. 

The company enjoyed an all-time record quarterly revenue of $75.9 billion (AUD 107.44 billion) on a record quarterly net income of $18.4 billion, or $3.28 per diluted share. Apple claimed this positive performance was driven by strong sales of its iPhone, Apple Watch and Apple TV products, in addition to related services. 

These results compare favourably to the corresponding figure of $74.6 billion revenue that was recorded for the same period 12 months ago. Net income of $18 billion or $3.06 per diluted share was posted in the year-ago quarter. 

As a result of the larger figures, gross margin stands at 40.1 per cent in the latest quarter, compared to 39.9 per cent last year. 

Apple emphasised the importance of its global standing, as international sales accounted for 66 per cent of the quarter's revenue.

Chief financial officer at Apple Luca Maestri said good sales and strong margins made this performance possible in spite of the ongoing difficulties presented by the worldwide economy. 

He said his firm's operating cash flow stood at $27.5 billion for the quarter, allowing it to return more than $9 billion to investors through share repurchases and dividends. 

Tim Cook, Apple chief executive, said: “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.

“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.”

Written by Mazuma

Mazuma Mobile is Australia's most trusted mobile phone recycling service.

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