UPDATE: During the call, Apple CEO Tim Cook revealed that Apple Music now has more than 10 million paying subscribers. He also commented on virtual reality, saying that he doesn't think of it as a "niche." Instead, Cook thinks VR is "really cool" and that it has "some interesting applications." Finally, Apple revealed that 60 percent of its iPhone user base has yet to upgrade to an iPhone 6, 6 Plus, 6s, or 6s Plus.

Apple just revealed the results of its fiscal Q1 2016, which is the three-month period that ended on December 26, 2015. Apple says that in that quarter, it sold 74.78 million iPhones, which is up from 74.468 million units sold in Q1 2015. iPad sales fell year-over-year from 21.42 million to 16.12 million and Mac sales fell from 5.52 million to 5.31 million.

Moving over to financials, Apple posted a revenue of $75.9 billion and a net income of $18.4 billion, both of which are record numbers. To compare, its Q1 2015 revenue and income were $74.6 billion and $18 billion, respectively.

Another interesting device tidbit revealed today is that Apple has an active install base of 1 billion devices. That means that during that 90-day period at the end of 2015, 1 billion iPhones, iPads, iPods touch, Apple TVs, Apple Watches, and Macs accessed Apple services.

Here’s what Apple CEO Tim Cook had to say about his company’s Q1 2016 numbers:

“Our team delivered Apple’s biggest quarter ever, thanks to the world’s most innovative products and all-time record sales of iPhone, Apple Watch and Apple TV. The growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices.”

Apple had itself a nice end to 2015, posting iPhone sales and profits that grew year-over-year. That said, it appears that the iPad Pro launch may not have been a huge seller, and Apple's relatively small YoY growth may result in some negative reactions from analysts and investors. Apple is likely pretty happy with the numbers it put up, though, including the fact that it’s officially crossed the 1 billion active device milestone.

Apple will hold a conference call to discuss its earnings at 5:00 pm ET, and so I’ll be sharing any interesting tidbits that might be dropped during the call.