Apple earnings

Apple announces insane earnings for the holiday period

Love Apple or hate Apple, they sure know how to make money and in their most recent earnings report they announced something astonishing: For the December quarter, Apple generated $74.6 (£49.5) billion in sales. To put that into perspective, that’s more than Google made in the whole of 2014 and more than Google and Microsoft made combined. And if you throw Amazon into that mix, Apple still made more money in one quarter than those 3 companies did in a whole year.

But let us not dwell on how far ahead Apple is than other technology companies. That would be unfair of us. Instead, let’s focus on the figures of Apple’s announcement:

In fiscal Q1 2015 (calendar Q4), Apple’s sales totaled $74.6 billion. That’s an increase of 30% from the year-ago quarter. For the same period, Apple’s net profit totaled $18 billion, or $3.06 per diluted share. That $18 billion of net profit is in addition to the $160 billion cash pile Apple is sitting on at the moment – in other words, they have more money than they will ever need.

Tim Cook is as pleased as you’d expect him to be, saying in a press release:

“We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high,” said Tim Cook, Apple’s CEO. “Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal.”

“Our exceptional results produced EPS growth of 48 percent over last year, and $33.7 billion in operating cash flow during the quarter, an all-time record,” said Luca Maestri, Apple’s CFO. “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.

Apple quotes record-breaking Mac and iPhone sales for the insane sales revenue for the holiday period and record performance on the App Store in its press release.

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