Record £11.8 billion profit boosted by 74.4 million iPhone sales, equivalent to 34,000 every hour during final quarter of 2014
Apple sold a record 74.4 million iPhones in the final three months of 2014 as sales of its new iPhone 6 models gave it the highest quarterly profit ever posted by a public company.
The iPhone maker reported record profits of $18 billion (£11.8 billion) for the quarter, up from $13.1 billion (£8.6 billion) in the final quarter of 2013. Revenues were up by 30 per cent from $57.6 billion (£37.9 billion) in 2013 to $74.6 billion (£49.6 billion).
Apple smashed the previous quarterly profit record of $15.9 billion (£10.4 billion) which was reported by oil and gas giant ExxonMobil in 2012, according to S&P Dow Jones Indices.
The surge in sales was led by a massive increase in China, where Apple sold 70 per cent more products than the final quarter of 2013. Sales in the Americas and Europe were also up, by 23 per cent and 20 per cent respectively.
Apple CEO Tim Cook revealed that the manufacturer had sold 34,000 iPhones every hour during the quarter, which ran from September 27 until December 27. Cook called the results “simply phenomenal.”
“We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high,” said Cook.
Sales of the iPad continued to wane with 21.4 units shifted during the quarter, down 18 per cent with 26 million sold in the same quarter a year ago.
The sales figures means that Apple has shipped more than one billion iOS devices overall since the launch of the first iPhone in 2007.
Apple’s previous record for quarterly iPhone sales was 51 million set in the quarter ending December 28, 2013. The US manufacturer also reported cash holdings of $178 billion.
Apple CFO Luca Maestri said: “Our exceptional results produced EPS growth of 48 per cent over last year, and $33.7 billion in operating cash flow during the quarter, an all-time record.”
“We spent over $8 billion on our capital return program, bringing total returns to investors to almost $103 billion, over $57 billion of which occurred in just the last 12 months.”
Apple also revealed it is due to launch its new Apple Watch smart watch in April.