On Tuesday, Apple announced financial results for its fiscal 2015 first quarter ending December 27, 2014. The company posted record quarterly revenue of USD 74.6 billion and USD 18 billion in profit, compared to revenue of USD 57.6 billion and net profit of USD 13.1 billion, in the same quarter in the previous year.
“Our exceptional results produced EPS growth of 48 percent over last year, and USD 33.7 billion in operating cash flow during the quarter, an all-time record,” said Luca Maestri, Apple’s CFO. “We spent over USD 8 billion on our capital return program, bringing total returns to investors to almost USD 103 billion, over USD 57 billion of which occurred in just the last 12 months.”
The Apple’s profits is followed by Microsoft and IBM which are having quarterly profits of USD 5.9 billion and USD 5.5 billion respectively. Here is a graph which compare Apple’s quarterly profits with some other Internet and IT companies:
Apple is is providing the following guidance for its fiscal 2015 second quarter:
- revenue between USD 52 billion and USD 55 billion
- gross margin between 38.5 percent and 39.5 percent
- operating expenses between USD 5.4 billion and USD 5.5 billion
- other income/(expense) of USD 350 million
- tax rate of 26.3 percent
Here is an another graph which shows how the company has grown 10 fold in last 8 years:
“Our revenue grew 30 percent over last year to USD 74.6 billion, and the execution by our teams to achieve these results was simply phenomenal.” said Tim Cook, Apple’s CEO. Apple’s decision to launch bigger iPhones could also be considered as a reason for its success. The average selling price of iPhones was USD 687 this quarter, compared to USD 603 last quarter.
Total of 5.5 million Mac units were sold, a 14 percent increase compared to the last year and 22 million iPads were sold, which is 14 percent less compared to last year. Around 3.5 million iPads were sold with as average selling price of USD 436 and now Apple Watch will be launched in March 2015, adding a new stream of revenue to open up for Apple.Category Business Technology