Another record breaking quarter for Apple

tim cook

Apple’s first quarter for 2016 ended on December 26 and its report card was released yesterday.

The Cupertino tech giant yet again posted record-breaking quarterly revenues of $75.9 billion (Dh278.9 billion) and quarterly income of $18.4 billion (Dh67.62 billion). International sales contributed 66 per cent of this quarter’s revenue. In the same quarter a year ago, Apple earned $74.6 billion (Dh274.1 billion) in revenue and $18 billion (Dh66.1 billion) net income.

“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 CEO.

Apple stocks a different story

Unfortunately for the world’s most valuable company, even though the numbers were record breaking, Apple’s stock fell hours after the announcement, as it didn’t match up to the revenue figures projected by analysts.

 

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