For the first quarter of 2016, Apple brought in $75.9 billion in revenue, a new record for the company. Net income of $18.4 billion also set a record. However, it sold 74.7 million iPhones—about the same as the 74.5 million it sold during Q1 of 2015.
“While Apple had a relatively good quarter in terms of overall revenue performance, it’s clear that weakening demand for iPhones will impact the company in the coming years,” said Brian Blau, an analyst with Gartner. “That weak demand will set expectations that Apple may not be as profitable or even as popular in the future, and that alone has many worried about what will happen if iPhones can no longer drive the revenue and profits.”
Apple also announced another figure that will be of interest to the mobile development industry: Apple’s active install base now tops 1 billion devices.