Worldwide sales accounted for 66% of the quarter’s revenue.
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A year ago in Q1 Apple managed a record-breaking quarterly profit of $18 on $74.60 revenue, and beating that figure keeps the company fixed to the tech throne.
Apple Inc. (Nasdaq:AAPL) was trading about 5 percent lower, at $95.01, Wednesday morning in NY. Sales of the iPhone remained at the same level and reached 74.8 million units during the quarter, only slightly different from the 74.4 million units sold in the same quarter of the previous year.
In addition, the iPad took a sizeable hit over the holiday period with sales of 16.1 million units, down 21 per cent from 21.4 million from the first quarter past year, despite the inclusion of early iPad Pro sales. An analyst at Mizuho Securities USA, Abhey Lamba said “they have other products, and have the potential to launch other products, but the hole left from an iPhone slowdown is too big to fill”.
Apple (AAPL) just reported its best quarter in company history.
“We don’t live in 90-day quarters, and we don’t invest in 90-day quarters”, said Cook. Profit topped out at $18.4bn, the highest reported by any company ever.
“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”, Apple CEO Tim Cook said.
In constant currency, this prediction would indicate a 5%-10% drop in revenue, explained Apple CFO Luca Maestri. If the company’s own forecasts are accurate, it will be the first revenue decline since the first quarter of 2003, just over a year after the first iPod was released. “$100 of Apple’s non-US dollar revenue in Q4 of 2014 translated to only $85 last quarter due to the weakening currencies”. This webcast will also be available for replay for approximately two weeks thereafter.
Sales of iPads saw a 56 per cent drop in revenues and 25 per cent dip in unit sales as the market for tablet computers cooled.
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Apart from iPhone, AAPL’s other product lines are also stumbling. “If it fails to do so, its growth is likely to be diminished still further”.
