Apple reported $18bn (£11.8bn) net profit in its first fiscal quarter, the biggest quarterly profit ever made b a public company, as they overtook £15.9bn profit made by ExxonMobil in the second quarter of 2012. Apple Shares rose over 5% in trading after the US markets had closed.
Apple’s chief executive Tim Cook said that demand for phones was “staggering”
The demand for Apple’s larger iPhone 6 Plus surpassed most analyst’s expectations and increase iPhone’s gross profit margin by over 2% to 40%”. Apple was also able to reap the fruits of its deal with the world’s biggest mobile network, China Mobile.
Sales of the iPad fell by 18% in 2014 from a year earlier.
This proves Apple quality phones are no match for low-priced rival machines from emerging markets. Apple have come a long way since Steve Jobs introduced the first iPhone on January 9, 2007.