Apple has just reported its results for the first quarter of 2015 and they’re the biggest in history. Not just Apple’s history though: the Cupertino-based giant had the most successful quarter out of any company in history.
No ad to show here.
Its quarterly revenue stood at a massive US$74.6-billion, with its net profit for the quarter reaching US$18-billion. In the same quarter a year ago, it brought in US$57.6-billion in revenue and net profit of US$13.1-billion.
The results were predominantly fueled by record iPhone and Mac sales as well as the App Store bringing in higher revenues than ever before. More than ever though, the iPhone stands out as Apple’s clear top performer. During the quarter, the company managed to shift 74.5-million units of its flagship device.
“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 CEO Tim Cook. “Our revenue grew 30% over last year to US$74.6-billion, and the execution by our teams to achieve these results was simply phenomenal.”
Interestingly, Apple is predicting a somewhat more restrained second quarter, suggesting that its Q1 revenues were driven by the gifting frenzy that takes place over the holiday period. That said, international sales accounted for 65% of the quarter’s revenue, so finding an Apple device under the Christmas tree appears to be something no longer confined to users in the US.
For Q2, Apple is predicting that it’ll bring in revenue between US$52-billion and US$55-billion, with operating expenses set to be between US$5.4-billion and US$5.5-billion.
To give you an idea of just how big Apple’s quarter was: the US$18-billion in profit alone was higher than Google’s gross revenues for the third quarter of last year.
And to give you an idea of just how significant it is that a tech company now tops the list for biggest financial quarters in history, the company it beat out was Russia’s Gazprom (the world’s largest natural gas supplier), which brought in US$16.2-billion.
In fact, all the companies Apple shares the quarterly earnings records with are involved in oil and natural gas.