Apple reports biggest quarterly profits in corporate history

Apple reports biggest quarterly profits in corporate history

Apple has announced record figures in its quarterly results for the final three months of 2014.

Its performance was boosted by sales of the latest generation of iPhone – the 6 and 6 Plus.

The company said that for the quarter ending on December 27 there was record quarterly revenue of $74.6bn and record quarterly net profit of $18bn.

These results compare to revenue of $57.6bn and net profit of $13.1bn in the same quarter a year ago.

International sales accounted for 65% of the quarter’s revenue.

Sales of iPhones at 74.5 million was also a new record.

Company chief executive Tim Cook said: “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% over last year to $74.6bn, and the execution by our teams to achieve these results was simply phenomenal.”

Apple announced shortly after the smartphone’s release in September that it had sold 10 million units in its first three days of sale – a company record - before going on to break another company record at the end of last year’s third quarter by confirming sales of more than 40 million.

Mr Cook said in a conference call with analysts that demand for the phones was “staggering” and results would have been even higher if not for the impact of the strong dollar on overseas sales.

The company sold 21.4 million iPads, down 22% from a year earlier. Some experts have suggested that the launch of the new iPad Air 2, iPad mini 3 and the lowering of the original iPad mini price to under €270 could see a return to growth for Apple’s tablet.

The new models also helped Apple increase its share of the China market. The company does not give iPhone sales by country, but a report published by research firm Canalys estimated that Apple sold more smartphones in China during the last quarter than any other maker.

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