Gifts Today magazine

Apple post record profits

Tech giant made £18billion profit in last quarter of 2014.

The tech giant made quarterly profits of £18bn – after strong sales of its iPhone 6.

Three years ago, ExxonMobil made $15.9bn in the second quarter of 2012 but Apple has swamped that figure.
Apple chief executive Tim Cook 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 per cent over the last year to $74.6bn (£48bn), and the execution by our teams to achieve these results was simply phenomenal.”

Apple’s profits came on the back of revenues of $74.6bn (£48bn) which were fuelled by record revenues from iPhone and Mac Sales and the App Store’s best performance.
The company is sitting on cash reserves of $178bn, more than the budget for the NHS. Apple sold 34,000 handsets every hour for the entire quarter. Apple said it sold 74.5 million iPhones.

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