Profit of $18 billion in the quarter – Revenue of $74.6 billion – Sales of 74.4 million iPhone6 devices and profit margin of 39.9%
Apple announced its financial results yesterday and the competitors of the bitten apple… went to hell! In the last quarter, Apple managed to have a net profit of 18 billion dollars, breaking every historical business quarterly record in history, not only its own but also the world's! Only the Russian Gazprom had come close, when in the first quarter of 2011 it declared profits of 16.24 billion dollars.
The unveiling of the iPhone 6 was the move that launched the financial performance. 74.4 million phones have been sold since the new model went on sale.
Apple's performance exceeded even the best and most demanding Wall Street forecasts. Analysts expected earnings of $2.60 per share and Apple delivered $3.06! They expected $67.69 billion in revenue and Apple reached $74.6 billion. For sales of the new iPhone, Wall Street luminaries predicted 66.5 million units and Apple sold 74.4, an increase of 22 million compared to the same period in 2013.
The only part that didn't go well, which was expected, is iPad sales. While analysts were expecting 21.4 million units, the final number is slightly below at 21.42 million units, which is explained by the use of the new larger phones as tablets by many customers.
Apple also managed to increase its profit margin from 36.9% to 39.9%. For the second quarter, Apple expects revenue between $52 billion and $55 billion!
Source: thetoc.gr
