Apple reports Q1 2016 earnings with 74.7m iPhones, 16.1m iPads, 5.3m Macs and $75.9 billion in revenue

Apple CEO Tim Cook looks at a new IMac after presentation at Apple headquarters in Cupertino

As is par for the course, another set of months has passed, and now it’s time for another quarterly earnings report from Apple, the house that built the iPhone.

Apple has posted yet another strong quarter. In fact, this quarter was the strongest for the company to date. And, as usual, the iPhone is leading the charge. Apple’s other key products, including iPads and Macs, were still sold in the millions, all of which combined to earn the Cupertino-based company billions in revenue in the three month span since its last quarterly earnings report. These results also include sales of the Apple Watch, the new Apple TV, and the iPad Pro.

The announcement essentially trounces some analysts who believed it would be a dismal reporting period. Apple sold a total of 74.7 million iPhones, 16.1 million iPads, and 5.3 million Macs. Unfortunately, Apple has once again decided to not include any sales figures for the Apple Watch. It earned $75.9 billion in revenue, and $18.4 billion in profit.

“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.”

Comparing these results with the fourth quarter of 2015, Apple saw $51.1 billion in revenue and $11.1 billion in profit thanks to 48 million iPhones, 9.8 million iPads, and 5.7 million Macs.

When compared to the year-over-year, Apple earned $74.6 billion in total revenue, with 74.5 million iPhones, 21.4 million iPads, and 5.5 million Macs. So, overall, Apple saw similar sales when compared to the first quarter of 2015.

And, here’s the official guidance that Apple is forecasting for its fiscal 2016 second quarter:

Apple is providing the following guidance for its fiscal 2016 second quarter:

  • revenue between $50 billion and $53 billion
  • gross margin between 39 percent and 39.5 percent
  • operating expenses between $6 billion and $6.1 billion
  • other income/(expense) of $325 million
  • tax rate of 25.5 percent

What do you think of Apple’s latest quarterly earnings?