Credit Suisse Lowers Estimates on Apple (AAPL) Post Q1; Keeps 'Outperform', $140 PT
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Apple Reports Record First Quarter Results
January 26, 2016 4:30 PM ESTiPhone, Apple Watch, Services & Apple TV Drive All-time Record Revenue
Results Produce Record Quarterly Profit of $18.4 Billion
CUPERTINO, Calif.--(BUSINESS WIRE)-- Apple® 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. These results compare to revenue of $74.6 billion and net income of $18 billion, or $3.06 per diluted share, in the year-ago quarter. Gross margin was 40.1 percent compared to 39.9 percent in the year-ago quarter. International sales accounted for 66 percent of the quarters revenue.
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