Apple has just announced its quarterly earnings for Q2 2016 which encompasses January through March of this year. Announced during its customary quarterly earnings call, the results saw Apple’s earnings reach $50.6 billion with a quarterly net profit of $10.5 billion. Those results are down on the same period last year which saw $58 billion in revenue, and $13.6 billion in profit. The drop in revenue means this is the first ever quarterly drop in revenue for Apple in last 13 years.
The makeup of this past quarter’s sales comes from 51.2 million iPhones, 10.3 million iPads, and 4 million Macs sold according to the call, which is again down on the same quarter from 2015; 61.2 million iPhones, 12.6 million iPads, and 4.6 million Macs were moved during Q2 of last year, for example. That drop in iPhone sales means iPhone’s amazing streak of no drop in sales since its debut in 2007 has finally come to an end.
The reduction in iPhone sales is likely directly attributable to the release of the iPhone 6s being of less importance to customers than that of the iPhone 6, although Apple has pointed out that the current model is outpacing the iPhone 5s as far as uptake is concerned.
“Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO. “We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”
During the call, Apple CEO Tim Cook labelled the past three months “a very busy and challenging quarter,” while also pointing out that Apple has been able to move a “huge” number of customers from Android to iOS platforms during the period. The number of customers buying their first Mac have also seen a successful quarter.
Apple has also confirmed that it is planning to further expand its Apple Pay mobile payment system to more markets while also confirming that there are now over 13 million paying Apple Music subscribers. Other tidbits include iPhone sales in India being up 56% and that the App Store saw its revenue increase by 35% during the quarter.
All in, not a bad quarter by anyone’s standards.
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