Apple stuns Wall Street with record profits - Daily Nation

Apple profit hits new high on rocketing iPhone sales

Wednesday January 28 2015

An Apple iPhone sits on a box on January 27, 2015 in San Anselmo, California. Apple Inc. reported huge first quarter earnings that were fuelled by strong iPhone sales with revenue of $74.6 billion compared to $57.6 billion one year ago. PHOTO | AFP

An Apple iPhone sits on a box on January 27, 2015 in San Anselmo, California. Apple Inc. reported huge first quarter earnings that were fuelled by strong iPhone sales with revenue of $74.6 billion compared to $57.6 billion one year ago. PHOTO | AFP 

By AFP
More by this Author

SAN FRANCISCO,

Apple's quarterly profit soared to a record Sh1.6 trillion ($18 billion) on the back of unprecedented iPhone sales, the tech giant said Tuesday.

The California-based Apple posted record revenue of Sh6.7 trillion ($74.6 billion) in the quarter, during which 74.5 million iPhones were sold.

Apple also set new records in the quarter for sales of Macintosh computers and revenue from digital goods on the shelves of its Apple Store.

About 65 percent of Apple's revenue came from sales outside the United States.

Apple reported profit of Sh1.2 trillion ($13.1 billion) on Sh5.1 trillion ($57.6 billion) in revenue in the same three-month period at the end of 2013.

"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 chief executive Tim Cook.

"The execution by our teams to achieve these results was simply phenomenal."

Apple's board of directors declared a cash dividend of 47 cents per share to be paid on February 12.

Apple shares rose more than five percent to $115.04 in after-market trades that followed release of the earnings figures.