iPhone, Mac and App sales fuel Apple profits

iPhone, Mac and App sales fuel Apple profits

Apple has recorded a quarterly net profit of £18bn for its first fiscal quarter, said to be the biggest ever for a public company.

The company’s results, for the quarter ending 27th December 2014, also showed quarterly revenue of £74.6bn, up 29% from $57.6bn in the same period the year before.

Its net profit was up 27% from £13.1bn in the same period the year before.

Apple said the results were fuelled by “all-time record revenue” from iPhone and Mac sales, and a record performance of the App Store. The company sold 74.5m iPhone units.

But sales of the iPad fell 18% in 2014 from a year earlier, reported the BBC, which also reported that Apple’s profits were the biggest ever for a public company.

Tim Cook, Apple’s c.e.o. said: “Our revenue grew 30% over last year to $74.6bn, and the execution by our teams to achieve these results was simply phenomenal.”