Apple Reports Revenues For Q1 2015 (hint: They Made Money!)

Discussion in 'Apple' started by Jon, Jan 27, 2015.

  1. Jon

    Jon Well-Known Member

    (Reuters) - Apple Inc (AAPL.O) quarterly results smashed Wall Street expectations with record sales of big-screen iPhones in the holiday shopping season and a 70 percent rise in China sales, powering the company to the largest profit in corporate history.

    The company sold 74.5 million iPhones in its fiscal first quarter ended Dec. 27, while many analysts had expected fewer than 70 million. Revenue rose to $74.6 billion from $57.6 billion a year earlier.

    Profit of $18 billion was the biggest ever reported by a public company, worldwide, according to S&P analyst Howard Silverblatt. Apple's cash pile is now $178 billion, enough to buy IBM (IBM.N) or the equivalent to $556 for every American.

    Apple Chief Executive Officer Tim Cook said the Cupertino, California-based company would release its next product, the Apple Watch, in April.

    Shares rose about 5 percent to $114.90 in after-hours trade.

    Daniel Morgan, senior portfolio manager at Apple-shareholder Synovus Trust Company in Atlanta, Georgia, said that the report was a good sign in a quarter where big tech companies such as IBM and Microsoft Corp (MSFT.O) have disappointed.

    Apple iPhone sales trample expectations as profit sets global record| Reuters
     
  2. IdRatherBeSkiing

    IdRatherBeSkiing This space for rent

    So who exactly was not expecting this? Sounds like some analysts need a new job.
     

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