"Last year Apple notched a record $18 billion in profit during this period, the largest ever recorded by a single public corporation. This year the company topped that, generating a profit of $18.4 billion on $75.9 billion in revenue during the last three months of 2015."
"But, the company also predicted the revenue for the second quarter of 2016, which for Apple is the first three months of this year, would come in between $50 and $53 billion. That is down from the $58 billion it earned during the second quarter of 2015, and would mark the first year-over-year revenue decline for Apple in the last thirteen years. It was the best of times, it was the worst of time."
"But revenue was down in Japan and the Americas, with big growth in China being the only reason Apple's revenue hasn't already seen a year-over-year decline. The total number of iPhones sold in Q1 of 2016, 74.78 million, was basically flat against the same period in 2015. iPad sales declined 21 percent from 2015, with 16.1 million sold this quarter. And Mac sales were down three percent from last year, to 5.31 million."
"As usual, iPhone sales were by far the largest revenue driver at Apple. But the best growth for the company is now coming from its "services" and "other products". Services — which consists of things like the app store, iCloud, AppleCare, and Apple Pay — grew 26 percent year over year to $6.05 billion. "Other Products", which includes the Apple Watch and Apple TV, grew its revenue 62 percent year-over-year, bringing in 4.3 billion this quarter."
"Apple highlighted the increasing diversity of its product line by noting that it has over 1 billion active users across all iOS devices within the last 90 days. And it noted that this quarter saw record sales of both the Apple TV and Apple Watch, without providing more detailed numbers."
"Asked about virtual reality on today's investor call, Cook sounded bullish. "In terms of VR, um, uh, no I don’t think it’s a niche. I think it can be, it's really cool, and has some interesting applications." Sounds like Apple is interested, although we still don't know how long the company plans to sit on the sidelines."
