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Apple Reports Record Quarterly Profit of $18.4 Billion

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Apple today announced financial results for its fiscal 2016 first quarter ended December 26, 2015. The Company posted record quarterly revenue of $75.9 billion and record quarterly net income of $18.4 billion, or $3.28 per diluted share. These results compare to revenue of $74.6 billion and net income of $18 billion, or $3.06 per diluted share, in the year-ago quarter. Gross margin was 40.1 percent compared to 39.9 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.

“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.”

“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.”

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

Apple’s board of directors has declared a cash dividend of $.52 per share of the Company’s common stock. The dividend is payable on February 11, 2016, to shareholders of record as of the close of business on February 8, 2016.

By Joanne Carter

Joanne Carter, creator of the world’s most popular mobile photography and art website— TheAppWhisperer.com— TheAppWhisperer platform has been a pivotal cyberspace for mobile artists of all abilities to learn about, to explore, to celebrate and to share mobile artworks. Joanne’s compassion, inclusivity, and humility are hallmarks in all that she does, and is particularly evident in the platform she has built. In her words, “We all have the potential to remove ourselves from the centre of any circle and to expand a sphere of compassion outward; to include everyone interested in mobile art, ensuring every artist is within reach”, she has said.
Promotion of mobile artists and the art form as a primary medium in today’s art world, has become her life’s focus. She has presented lectures bolstering mobile artists and their art from as far away as the Museum of Art in Seoul, South Korea to closer to her home in the UK at Focus on Imaging. Her experience as a jurist for mobile art competitions includes: Portugal, Canada, US, S Korea, UK and Italy. And her travels pioneering the breadth of mobile art includes key events in: Frankfurt, Naples, Amalfi Coast, Paris, Brazil, London.
Pioneering the world’s first mobile art online gallery - TheAppWhispererPrintSales.com has extended her reach even further, shipping from London, UK to clients in the US, Europe and The Far East to a global group of collectors looking for exclusive art to hang in their homes and offices. The online gallery specialises in prints for discerning collectors of unique, previously unseen signed limited edition art.
Her journey towards becoming The App Whisperer, includes (but is not limited to) working for a paparazzi photo agency for several years and as a deputy editor for a photo print magazine. Her own freelance photographic journalistic work is also widely acclaimed. She has been published extensively both within the UK and the US in national and international titles. These include The Times, The Sunday Times, The Guardian, Popular Photography & Imaging, dpreview, NikonPro, Which? and more recently with the BBC as a Contributor, Columnist at Vogue Italia and Contributing Editor at LensCulture. Her professional photography has also been widely exhibited throughout Europe, including Italy, Portugal and the UK.
She is currently writing several books, all related to mobile art and is always open to requests for new commissions for either writing or photography projects or a combination of both. Please contact her at: joanne@theappwhisperer.com

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