Record sales of Apple's iPhone drive biggest-ever quarterly profit in corporate history

Apple has announced a quarterly net profit of $18bn (£11.9bn), the biggest ever reported by a public company, with record sales of 75.4 million Phones fuelling the performance.

iPhone 6: sales of the smartphone drove Apple's record-breaking Q1 sales and profits
iPhone 6: sales of the smartphone drove Apple's record-breaking Q1 sales and profits

The technology giant’s first fiscal quarter, for the three months ending 27 December, achieved revenues of $74.6bn, with international sales accounting for 65% of sales.

Apple also attributed its rude financial health to sales of Mac desktops and laptops, which grew revenue by 9%, and apps on its App Store.

But while more iPhones than ever were shifted, sales of iPads continued their decline, with the number of units sold falling 18% in 2014 compared to 2013.

Apple’s $18bn profit beat the previous record for a quarterly profit – $15.9bn reported by ExxonMobil in the second quarter of 2012, according to Standard & Poor’s.

The tech group’s performance surpassed the expectations of analysts, who predicted $67.5 billion in revenues. In Europe, total sales were $17.2bn, up 20% year-on-year, but China demonstrated the most fertile market for growth – at $16.1bn, up 70% from the same quarter last year.

Meanwhile, the company said its Apple Watch was due to go on sale in April.

Tim Cook, Apple’s chief executive, said: "We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high.

"Our revenue grew 30% over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal."

Become a member of Campaign from just £45 a quarter

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.co.uk ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content

Share

1 Why creative people have lost their way

What better way to kick off the inaugural issue of Campaign's monthly print offering than with another think piece on the current failings of our industry, written by an embittered, pretentious creative who misses "the way things used to be"...

Share

1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).