Apple reports record revenue for Q2 as iPhone sales rise


Revenue hits £27 billion with net profit increasing to £6 billion, as iPhone sales rise 17 per cent from last year to 43.7 million units

Apple saw revenue rise five per cent to $45.6 billion (£27.14bn) in Q2 from $43.6 billion (£25.95bn) a year ago – a record in the period for the technology giant.

Revenue in Europe made up almost a quarter of this total, up four per cent from $9.8 billion (£5.8bn) to $10.2 billion (£6bn). Sales in China also increased significantly by 13 per cent from $8.2 billion (£4.8bn) to $9.3 billion (£5.5bn).

Net profit had increased year-on-year from $9.5 billion (£5.6bn) to $10.2 billion (£6.07bn), while gross profit was 39.3 per cent compared to 37.5 per cent.

iPhone sales also rose 17 per cent from Q2 2013 from 37.4 million to 43.7 million units. Apple released its two most recent smartphones, the iPhone 5s and 5c, last September.

However, iPad sales fell 16 per cent from a year ago from 19.5 million to 16.4 million units. This was despite the manufacturer releasing the iPad Air and an upgraded version of the iPad Mini in November.

Apple has also forecasted lower figures for the coming quarter, with revenue of between $36 billion (£21.4bn) and $38 billion (£22.6bn), and gross margin of between 37 per cent and 38 per cent.

Apple CFO Peter Oppenheimer said: “We generated $13.5 billion (£8.03bn) in cash flow from operations and returned almost $21 billion (£12.5bn) in cash to shareholders through dividends and share repurchases during the March quarter. That brings cumulative payments under our capital return program to $66 billion (£39.2bn).”