In pictures: Apple's 2016 financials
Apple highlights record first quarter, but misses iPhones and iPads predicted estimates.
In its first quarter, Apple posted a record revenue of $75.9bn and a quarterly net income of $18.4bn, or $3.28 per diluted share. In comparison to its first quarter in 2015, Apple then reported a revenue of $74.6bn and net profit $18bn. Apple CEO Tim Cook hailed the iPhone, Apple Watch and Apple TV as the ‘world’s most innovative products’, but is this Apple's strongest quarter ever? The release of the iPhone 6S and 6S Plus during the festive period meant shipment figures reached 74.8m. Despite the high volume, overall quarter-on-quarter results showed iPhone sales had only increased by 0.4% to 74.8m from 74.5m a year ago. (Getty Images) iPad sales were at its worst at 16.1m sales, compared to 21.4m last year, showing a steady decline. Apple failed to pass its iPhone and iPad estimates. Apple’s Mac sales were lower compared to a year ago where 5.52m units had been sold, again another steady decline saw 5.31m units shipped in this first quarter. (Getty Images) Though Apple did not specify actual figures, its other products, such as Apple TV, Apple Watch, Beats products, iPod and Apple-branded and third-party accessories, soared by 63% and generated $4.4m revenue. (Getty Images) Other services which include iTunes and Apple Pay generated $6.05bn revenue, and was up by 26% on the previous quarter. On a global scale, Greater China revenue was at $18.37bn, which was up by 14% compared to last year. Revenue in Japan fell to 12% and the Americas was down 4%, but Europe and the rest of Asia increased by 4%. Apple’s successful first quarter will not be matched in its second, as it predicts generating revenue between $50bn and $53bn, which is lower than the $58bn it made in its second quarter last year. (Getty Images) Wall Street was expecting earnings of $2.23 a share and revenue of $55.6bn, and furthermore Apple’s stock was up 0.5% at market close. (Getty Images)