Apple Records Monster Profit on Record iPhone Sales
Posted on January 27, 2015
Apple recorded a monster profit during its fiscal 2015 Q1 quarter ending December 27, 2014. The company recorded quarterly net profits of $18 billion on revenues of $74.6 billion. The mega profit was driven by record iPhone sales.Fortune calls Apple's massive quarter the "largest net income of any public company in history." Apple sold 74.5 iPhones during the quarter. Apple also say it had record Mac sales.
Apple CEO Tim Cook says in a statement, "We'd like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high. Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal."
The only downside in the report was a slip in iPad sales. Sales of iPads fell 18% compared to the year before. There are concerns, as always, over how Apple can maintain its phenomenal growth. There are also unknowns such as how popular its smartwatch device - the Apple Watch - will be when it launches in April. If smartwatches find popularity overall then it is very likely the Apple Watch will do well.