The strong quarter boosted the company's cash hoard to $246.09 billion, up $8.4 billion from the previous quarter, according to CNBC.
The results compare to revenue of $75.9 billion and earnings per diluted share of $3.28 in the year-ago quarter. And yes, that was largely pushed by iPhone sales, with Apple saying it sold more 8 percent more devices than past year, in addition to record revenue for Mac, Watch and services (like the App Store).
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"iPad" sales were also a low point for the company, coming in at 13 million units sold versus the 16.2 million in the same quarter of 2015.
It's working already. The services business grew 18% from the December-ending quarter a year ago, contributing $7.2 billion of revenue during the December-ending quarter. Shares were up 2.5% in after-hours trading, helped by the fact that the company beat analysts' expectations for the quarter.
Revenue from services, including digital music, Apple Pay, cloud storage and applications, rose 18% in Q1 to $7.2 billion, beating analyst exceptions for $6.9 billion, according to data from FactSet cited by CNBC. The company is expecting operating expenses between $6.5 billion and $6.6 billion, and a tax rate of 26 percent. Global sales accounted for 64% of the quarter's revenue, it noted. The Christmas period was seen as crucial for for Apple, whose iPhone sales have begun to slide in recent years.
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Apple provided guidance for its fiscal second quarter.
Keeping with (a rather sad) tradition, Apple did not give a specific number for its Apple Watch sales, opting to keep it in the "Other Products" category, though Cook and Co. did report that the product has a record quarter.
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