Apple breaks revenue records in fiscal first quarter 2016

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Yesterday Apple announced financial results for the first quarter of fiscal 2016, which ended on December 26, 2015. The company had record earnings in the last quarter of 2015, with revenue of $ 75900 billion, for a record quarterly net profit of $ 18400 billion or $ 3,28 per diluted share.

If we compare these results with those of the previous quarter we see a small increase if we take into account that revenue was 74600 billion dollars with a net profit of 18 billion then.

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Gross margin was 40,1 percent compared to 39,9 percent in the prior-year quarter. This time international sales accounted for 66 percent of revenue for the quarter. According to Tim Cook, the CEO of Apple:

Our team has achieved the best quarter in Apple's history, thanks to the world's most innovative products and the historical sales record of the iPhone, Apple Watch and Apple TV […] The growth of our services business accelerated during this quarter and as a consequence we have obtained record results, our recently installed base of devices crossed an important milestone with more than XNUMX billion active devices.

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On the other hand Apple also provided a series of key points for the second fiscal quarter of 2016 where they expect the following:

  • Income between $ 50 billion and $ 53 billion
  • Un gross profit margin between 39 percent and 39,5 percent
  • Operating expenses between $ 6 billion and $ 6.1 billion
  • Other income / (expense) of $ 325 million
  • Un 25,5 percent tax rate

Luca Maestri, Apple's Chief Financial Officer also made a statement regarding the results:

Our sales record and wide revenue and profit margins have meant the best records of all time despite a very difficult macroeconomic environment. We generated an operating cash flow of $ 27.5 billion during the quarter and returned more than $ 9 billion to investors through share buybacks and dividends. We have also returned 153 billion of the 200 billion set from our return on equity program.


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