April 28, 2015
Revenue of $58 Billion Attributed to High iPhone Sales
Apple’s iPhones have given the company another record-setting quarter.
The computer giant released its second-quarter figures Monday reporting a staggering $58 billion revenue. Compare that figure to the same quarter last year and there is a 27 percent increase.
It should come as no surprise the figures have been well received by Apple.
“We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever,” said Apple CEO Tim Cook in a company release.
“We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.”
As reported by Time, the numbers not only set a record but also surpassed the expectations on Wall Street. Analysts had predicted a strong showing but by 24 percent, not the 27 announced Monday.
The bulk of that revenue — approximately $40 billion of it — can be traced back to the strong sales of iPhones. The second quarter of 2015 saw Apple sell 61.2 million of the devices, that’s nearly 40 percent more than in the second quarter of 2014.
“The tremendous customer demand for our products and services in the March quarter drove revenue growth of 27 percent and EPS growth of 40 percent,” said Luca Maestri, Apple’s CFO, in the same release. “Cash flow from operations was also outstanding at $19.1 billion.”
Looking ahead, Apple‘s predicting revenue of $6 billion to $48 billion in the third quarter with a gross margin between 38.5 and 39.5 percent.
W. Brice McVicar is a staff writer for SiteProNews.