Apple reported earnings of $3.28 per share, which beat the average analyst estimate of $3.23 per share, according to Thomson Reuters.
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Other products like the Apple Watch, which was released last summer, have failed to set the world alight while other products like the rumoured Apple Car are still in the development phase.
The most recent iPhones are also facing tough comparison to the strong sales of prior siblings.
This compares with a roughly 46 percent year-over-year surge in iPhone revenue in the first quarter of 2015. While the Apple iPhone 6s and Apple iPhone 6s Plus had no design change, the new handsets did add 3D Touch and bumped the rear camera to 12MP from 8MP.
Apple signalled that the iPhone would see its first ever decline in sales in the current quarter, after growth was reduced to a rounding error in the three months to December.
And despite the slowdown, Apple remains the most profitable company in the S&P 500 and the most valuable publicly traded US tech company.
Thanks in large part to selling 74.8 million iPhones, Apple recently recorded its best quarter ever.
The slight surprise in iPhone revenue is notable because a recent survey indicated that older iPhone models were fairly popular among buyers who preferred to save some money on a new iPhone because there wasn’t enough of a differentiation between the iPhone 6s lineup and the iPhone 6 line. In total, Apple sold 74.8 million of the smart phones. He called it an “incredible number” that speaks to the “immense popularity of the iPhone”. But amid all of its financial disclosures, the company revealed that it now has 1 billion “active” devices that are connected to its services.
iPad sales are still however up 63 per cent from the previous quarter. Apple’s “other products” category, which includes the Apple Watch, is a bright spot: The company made $4.3 million in that category, up from $2.6 million in Q1 2015. ( AAPL ) once again announced a record quarterly profit on Tuesday. Analysts had predicted revenues of $76.59 billion. That’s Wall Street’s consensus for the next quarter ending in March.
Apple’s earnings conference call is available here. China is traditionally one of Apple’s fastest growing markets. Revenue from the region almost doubled in the fourth quarter.
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The iPad saw sales of 16.1m against projections of 17.3m, and 5.3m Macs were sold in the period, against analysts’ expectations of 5.8m. For the current quarter, Apple sees revenue in the range of $50 to $53 billion.
