Apple Reports Record Quarterly Profit of $18.4 Billion
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.
Joanne Carter
Joanne Carter is a British photographer, photography journalist, editor and curator and the founder and editorial director of TheAppWhisperer.com, an independent international photography publication established in 2009.Her journalism, criticism and commentary have appeared in The Times, The Sunday Times, The Guardian, Financial Times, BBC, Vogue Italia, LensCulture, Popular Photography, Android Magazine, NikonPro, DPReview, Which Digital Camera and Which Camera. She has lectured internationally on photography and mobile art, served as a juror for international photography awards, and exhibited her own photographic work across the UK, Europe, South Korea and the United States.Alongside her editorial work, Joanne's photographic and postgraduate research explores death, grief, memory, representation and social inequality through contemporary photography, participatory practice and visual research methods, with the longer-term aim of developing this work through doctoral research.Through TheAppWhisperer, she continues to publish independent photography journalism spanning contemporary photographic practice, mobile imaging, photographic apps, computational photography and emerging imaging technologies.Joanne is available for editorial commissions, photography projects, judging, curatorial work, speaking engagements, consultancy and selected collaborations.
