Apple reported growth in sales of the company's flagship smartphone was the slowest year-over-year ever, ending a growth streak that began in 2007, when the original Apple iPhone was first introduced. Apple said that it expected revenue in the current quarter to be between Dollars 50 billion and USD 53 billion.
As a result, all analyst eyes were on Apple's guidance for the next quarter, and the company confirmed rumours that it would suggest a drop in revenue.
Despite the Cupertino, California based company setting an all-time record for quarterly profit for any public company in the U.S.by moving up 2% from the same period a year ago, the tech giant did not meet expectations on Wall Street with its iPhone 6S, the most recent smartphone let alone other products such as the Mac and iPad.
Apple reported its "best quarter by far" for Apple TV sales during its fiscal first quarter, as the company posted record quarterly profit of US$18.4 billion.
"Our installed base recently crossed a major milestone of one billion active devices", said Cook.
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.
The quarter, which covered the last three months of 2015, was boosted by strong Christmas holiday sales.
The company announced this as part of its first-quarter earnings statement, adding that it sold its billionth iOS device back in November 2014.
Apple once again declined to disclose sales figures for the Apple Watch, leaving analysts to speculate just how successful the gadget is. CFO Luca Maestri said those services generated $31 billion last fiscal year and $9 billion last quarter alone, a 24% increase from the year-ago period. They made up almost 70 percent of its revenue in the past holiday quarter. Then there's Apple's cut of all the apps sold via the App Store, music and videos purchased th rough iTunes, and its own product-service plans.
Along with its earnings report, the company also issued a sales forecast that signaled that the sluggish sales would continue for the near future.
Super Bowl 50: Carolina Panthers vs. Denver BroncosThe closest he came was a 14-yard quarterback draw where he didn't even signal for the first down, as he customarily does. If your tablet runs on iOS, Android, or Windows, you'll be able to stream the game through the CBS Sports app as well.
Source: Apple reports a quarterly profit of USD 18.4 billion
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