Apple (AAPL) today announced financial results for its fiscal 2016 first quarter ended December 26, 2015. The Company posted record quarterly revenue of $75.9 billion and record quarterly net income of $18.4 billion, or $3.28 per diluted share.
On the other hand the company now estimates the gross margin to be lower during the second quarter 2016 than it was in the previous quarter. Gross margin is expected to decline to 39 – 39,5 percent from 40,1-39,9 percent.
Apple sold 74 779 i Phones during the quarter compared to 48 046 units during the previous quarter. International sales accounted for 66 percent of the quarter’s revenue. The sales in China was 18,3 billion dollars during the quarter, an increase of 14 percent.
The company is not disclosing sales figures from Apple Watch, but that division posted a 4,3 billion dollars sales during the quarter compared a sales of 3,0 billion dollars a quarter earlier.
R&D was up to 2,4 billion dollars during the quarter compared to 1,9 billion dollars earlier. Also the share-based compensation R&D expenses were up to 466 million dollars from 374 million dollars. It is widely expected that Apple is developing an electric car in California.
Apple´s guidance for its fiscal 2016 second quarter:
- revenue between $50 billion and $53 billion
- gross margin between 39 percent and 39.5 percent
- operating expenses between $6 billion and $6.1 billion
- other income/(expense) of $325 million
- tax rate of 25.5 percent