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Tuesday, January 27, 2015

Apple posts the biggest 2015 first quarter earnings in corporate history

 Apple announced record revenues of $74.6bn in its fiscal 2015 first quarter earnings report

Apple Reported a net profit of $18bn (£11.8bn) in its fiscal first quarter, which tops the $15.9bn made by ExxonMobil in the second quarter of 2012, according to Standard and Poor's.

For its fiscal first quarter ended Dec. 27, Apple earned $3.06 a share on sales of $74.6 billion. EPS leaped 48% from a year earlier and sales 30% — both the best gains in 11 quarters

Gross profit margin was 39.9% vs. 37.9% a year earlier, defying forecasts for a dip to 37.7%.

Apple sold 74.5 million iPhones in Q1, up 46% vs. a year earlier.

Record sales of iPhones were behind the surge in profits.

Apple sold 74.5 million iPhones in the three months to 27 December - well ahead of most analyst's expectations.

Apple chief executive Tim Cook called the sales “phenomenal” and said the company had sold 34,000 iPhones an hour every day of the quarter. “This volume is hard to comprehend,” Cook said.

Sales were led by China, up 70% on a year ago. Sales in the Americas and Europe were up 23% and 20% respectively.


In a conference call with financial analysts Apple's chief executive Tim Cook said that demand for phones was "staggering".

However, sales of the iPad continued to disappoint, falling by 18% in 2014 from a year earlier.

The demand for Apple's larger iPhone 6 Plus model appeared to help boost profits and increase the iPhone's gross profit margin - or how much Apple makes per phone - by 2% to 39.9%.

However, Apple did not give a breakdown of sales for the iPhone 6 and other models.

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