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Apple reports R1 trillion in earnings and 1 billion active products

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During its final quarterly earnings call for 2015 and first for 2016, Apple revealed that as many as one billion Apple products are active around the world.

Now, to be clear, this isn’t the billionth product the Cupertino company has sold, according to a report on The Verge – that happened back in 2014.

The number Apple Chief Executive Officer, Tim Cook is referring to is the number of iPhones, Apple Watches, iPads and other Apple products which are currently being used right now.

Explaining how the firm reached the milestone Cook said, “the growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices”.

As projected, Apple revenue grew slightly. A quarterly revenue of $75.9 billion (R1 trillion) was declared with net income totaling $18.4 billion. This represents a 1.7% increase in revenue when compared to earnings during the final quarter of 2014.

Entering the second quarter, the firm is being  conservative in its projections when compared to earnings reported during the same quarter last year.

At the end of March 2015 Apple reported quarterly revenue of $58 billion, projections for the second quarter of this year peg revenue between $50 billion and $53 billion, a drop of about 8.6%.

While it is a probably a bit worrying for Apple that they’re not doing as well as in previous years we do find it hard to feel sorry for a company that only made $1 billion more than it did last year.

[Via – The Verge] [Image CC by 2.0 – Simon Yeo]

Brendyn Lotz

Brendyn Lotz

Brendyn Lotz writes news, reviews, and opinion pieces for Hypertext. His interests include SMEs, innovation on the African continent, cybersecurity, blockchain, games, geek culture and YouTube.