News

Apple announces strong growth in 2Q

Robust sales of iPhones, Macs and apps increase revenue by 27 percent, setting a new record, according to an Apple release.

April 29, 2015

Apple announced this week financial results for its fiscal 2015 2Q. The company posted quarterly revenue of $58 billion and quarterly net profits of $13.6 billion. These results compare to revenue of $45.6 billion and net profit of $10.2 billion in 2014 2Q.

The growth was fueled by record second quarter sales of iPhone and Mac, and all-time record performance of the App Store, according to a company release.

"We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever," Tim Cook, Apple's CEO, said in a 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."

"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," Luca Maestri, Apple's CFO, said in the release. "Cash flow from operations was also outstanding at $19.1 billion."