Apple announced its fourth quarter earnings last night, and again the company has broken its previous records. It also revealed that iPhone sales were on a rise, but iPad sales have continued on their downward trajectory.
Apple earned revenue of $51.5 billion, with a profit of $11.1 billion in Q4, 2015. This not only surpasses analysts’ estimates of $50.98 billion, but also marks a 22 percent rise in the same period last year. During the same period in 2014, Apple earned $42.1 billion at a profit of $8.5 billion.
“Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28 percent to nearly $234 billion,” CEO Tim Cook said via a press release. “This continued success is the result of our commitment to making the best, most innovative products on earth, and it’s a testament to the tremendous execution by our teams.”
Apple managed to sell 48.05 million iPhones, backed by strong demand for its new iPhone 6s and iPhone 6s Plus. This marks a 22 percent increase from last year, when it had sold 39.2 million iPhones in the same period.
Mac sales too continued to rise, despite bleak PC market. Apple says it sold 5.7 million Macs, which marks a slight rise over the 5.5 million Macs the company sold in the same period last year.
Apple’s iPads though continued their decline, and sales were down 20 percent year-over-year. A year back, Cook acknowledged the decline in sales, but claimed that he viewed it as “a speed bump, not a huge issue.” But it seems to be more than that. Apple only managed to sell 9.9 million iPads this quarter, compared to 12.5 million in the same period last year.
Going forward, Apple is expecting a better quarter owing to the holiday season. In Q1, 2016 it expects revenues of $75.5-77.5 billion and gross margins staying between 39 percent and 40 percent.
“We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week,” Cook said.