Apple's Fiscal Q1 Earnings Astonish: Record 74.5 Million iPhones Sold, $18 Billion In Profit
As we alluded to in our article earlier today, Apple has just announced its earning for fiscal Q1 2015. The results are nothing short of astonishing, as Apple had record quarterly revenue of $74.6 billion and along with record quarterly net profit of $18 billion. Yes, you heard that correctly, $18 billion in profit for a single quarter. For comparison, Microsoft yesterday reported a net profit of $5.86 billion for its most recent quarter.
Gross margins were also through the roof, coming in at 39.9 percent compared to 37.9 percent for the same period one year ago. Earnings came in at $3.06 per diluted share compared to $2.07 per diluted share for the same period last year. When all the results were tallied, international sales accounted for a whopping 65 percent of Apple’s quarterly revenue.
You don’t have to look very far to see why these results blew past all analysts’ expectations — you can chalk it up to the success of the larger-screened 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus. While the late Steve Jobs mocked and shunned “phablet” devices, current CEO Tim Cook embraced the popular category. As a result, Apple sold a record 74.5 million iPhones during the quarter.
Mac sales also set an all-time record with 5.52 million units sold, which represented a 14 percent increase year-over-year. iPad sales were down again, coming in at 21.4 million units, which represents an 18 percent decline year-over-year.
“We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high,” said Apple CEO Tim Cook. “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 has much to look forward to during fiscal Q2 2015. The boys and gals from Cupertino are set to release the Apple Watch this quarter, and although battery life is reportedly dismal, the $349 starting price must be music to Cook’s ears. In addition, the long-rumored 12-inch Retina MacBook Air should also be arriving soon.