Apple posts record quarterly figures for first quarter of 2016

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Apple announced its first quarter financial results for the financial year of 2016, which ended on December 26, 2015.

The company posted record quarterly revenue of $75.9 billion and record quarterly net income or profit of $18.4 billion, the highest in the company’s history. In comparison, Apple earned $74.6 billion revenue and $18 billion net income in the year-ago quarter. International sales accounted for 66% of the quarter’s revenue.

In his statement, CEO Tim Cook attributed the record quarter to the strong sales of iPhone, Apple Watch, and Apple TV. He also said the growth of Apple’s Service business accelerated and the company’s install base crossed one billion active devices, roughly 1/7th the Earth’s population.

However, despite the impressive numbers, Apple’s stock fell after hours, as although the company exceeded the $18.22 billion net income projected figure by analysts, it fell short of the $76.67 projected revenue figure.

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