Earlier this week, Apple officially revealed their financial results for its fiscal Q3 of 2016.
During this quarter, Apple made a total revenue of $42.4 billion, which is down by 15% since the same time last year, however, this is still a lot of revenue.
The reason for the decrease may be due to iPhone sales, which were also down by 15% since last year’s quarter, with Apple selling 40.4 million iPhones in Q3 2016.
“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter,” said Tim Cook, Apple’s CEO. “We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”
“Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to investors through share repurchases and dividends, and we have now completed almost $177 billion of our $250 billion capital return program.”
On top of this news, Apple also revealed that they have sold a humungous amount of iPhones to date, with a total of 1 billion iPhone sales.
This includes every iPhone that has been sold since Apple’s previous CEO, Steve Jobs unveiled the iPhone back in 2007.
“iPhone has become one of the most important, world-changing and successful products in history. It’s become more than a constant companion. iPhone is truly an essential part of our daily life and enables much of what we do throughout the day,” said Cook. “Last week we passed another major milestone when we sold the billionth iPhone. We never set out to make the most, but we’ve always set out to make the best products that make a difference. Thank you to everyone at Apple for helping change the world every day.”