Apple reports biggest quarterly profit in history

Technology giant Apple has reported a net profit of $18 billion (15.9 billion euros) in its fiscal first quarter – the biggest quarterly profit ever made by a public company. Record iPhone sale boosted profit figures.

The company’s quarterly results smashed Wall Street expectations, with a 70 percent rise in China sales also being credited as a factor behind the huge surge, which saw revenue rise by 30 percent from $57.6 billion to $74.6 since last year.

By the end of its fiscal first quarter, which ended on December 27 last year, the company had sold 74.5 million iPhones, with the the iPhone’s gross profit margin increasing by 2 percent to 39.9 percent.
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Source News: DW