Experts didn’t seem very hopeful about Apple’s new wide-screen iPhone when it was introduced in September, but as it turns out, they had nothing to worry about.
Rounding up its three month sales, Apple Inc. announced the result of its last fiscal quarter, setting a global record for the biggest quarterly profit ever earned in the corporate history.
The tech giant earned a total of $74.6 billion and the record net profit of $18 billion through its booming sales of iPhones, Mac and App Store items, among other products and services.
Analysts had predicted the new iPhone would sell a little under 70 million units, but it actually sold 74.5 million, exceeding all former expectations.
“We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high,” said Tim Cook, Apple’s CEO. “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.”
Apple's revenue rose to $74.6 billion from $57.6 billion a year earlier.
“Our exceptional results produced EPS growth of 48 percent over last year, and $33.7 billion in operating cash flow during the quarter, an all-time record,” said Luca Maestri, Apple’s CFO. “We spent over $8 billion on our capital return program, bringing total returns to investors to almost $103 billion, over $57 billion of which occurred in just the last 12 months.”
Apple’s board of directors declared a cash dividend of $.47 per share of the company’s common stock.
The announcement of Apple’s smashing sales has also created a lot of buzz on social media. Take a look at what people have to say about it:
600 phones a minute for 90 days flat, you make 75 millions and biggest profit making company in last quarter. That's Apple guys !!!— Deepika Tulsi Roy (@tiapakhii) January 28, 2015
Apple could buy everyone on the planet an apple a day for a year.. #Appleapple— Lorcan Roche Kelly (@LorcanRK) January 27, 2015
With just the cash it has lying around, Apple could buy Canada's two largest banks— Mathew Ingram (@mathewi) January 27, 2015
Hmm. Apple has biggest iPhone sales ever after introducing bigger model. I bet the same thing will happen with 13" iPad+.— Jeff Atwood (@codinghorror) January 28, 2015