iPhone, Apple Watch and Apple TV drive record revenue for Apple in fiscal Q1

Apple (NASDAQ: AAPL) recorded quarterly revenue of $75.9 billion and quarterly net income of $18.4 billion in the fiscal year 2016 first quarter, compared to revenue of $74.6 billion and net income of $18 billion a year earlier. The quarterly results represented new records for Apple and can be attributed to all-time record sales of the iPhone, Apple Watch and Apple TV, according to Apple CEO Tim Cook.

  • Apple reported $5.5 billion in services revenue in FY16 Q1, a 15 percent year-over-year increase.

  • Apple's installed base drove almost $9 billion in FY16 Q1, up 24 percent year over year.

  • 1 billion iPhone, iPad, Mac, iPod touch, Apple TV and Apple Watch devices have been engaged with Apple services within the past 90 days.

  • $100 of Apple's non-U.S. dollar revenue in Q4' 14 translates into only $85 U.S. dollars today.

Apple Currency Index 2016

Source: Apple fiscal Q1 2016 report.

"Our team delivered Apple's biggest quarter ever, thanks to the world's most innovative products," 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 1 billion active devices."

The future looks bright for application developers who are focused on creating iPhone, Apple Watch and Apple TV apps. Apple's Developer Program now provides app developers with the tools they need to design, distribute and manage apps on all Apple platforms. In addition, Apple offers Xcode 7, empowering app developers to test their apps with the latest releases of iOS, OS X, watchOS and tvOS and get their apps to market faster than ever before. And with Apple's forecasted revenue expected to fall between $50 billion and $53 billion in the fiscal year 2016 second quarter, Apple developers could further accelerate Apple's revenue growth.

For more:
- see the full report here

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