Apple Posts Most Profitable Quarter in History
TipRanks | Jan 29, 2015 05:43AM ET
By Sarah Roden
Wall Street waited patiently for Apple (NASDAQ:AAPL) to deliver their first quarter results for the fiscal year 2015 on January 27th, but the public was still amazed by the ground-breaking results. Earnings from Apple’s report easily dwarfed figures from any other company in history.
Highlights from Apple’s Q1 report include record quarterly revenue of $74.6 billion, a 30% year-over-year increase, and crushing analyst estimates of $67.3 billion. The tech giant posted earnings per share of $3.06, marking an overwhelming 47% year-over-year increase and easily surpassing estimates of $2.58. These figures make Apple’s Q1FY15 the most profitable quarter of any company in history.
The iPhone stole the show as Apple sold 74.47 million iPhone units in the quarter. In addition, Apple saw a huge increase in business from China, citing $16.45 billion in sales from China and Taiwan; a 70% year-over-year increase and contributing to 22% of Apple’s total sales.
Apple reached another impressive milestone this quarter: selling its billionth iPhone. Apple sold its billionth iPhone on November 22nd, which will be kept in the company’s California headquarters as a trophy.
Looking forward, Apple expects to post revenue between $52 billion and $55 billion for the second quarter of 2015. Investors are also excited to see what the Apple Watch will bring.
On January 28th, analyst TipRanks is Moderate Buy
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