iPhone 6 Sales Help Drive $58B In Revenue For Apple

The iPhone 6 and 6 Plus shone during a record-breaking quarter that earned Apple $58 billion in revenue.
10 Apple Watch Apps For Business, Productivity
10 Apple Watch Apps For Business, Productivity
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Overseas sales of the iPhone 6 and iPhone 6 Plus helped Apple continue its streak of eye-popping quarterly earnings, the company announced Monday, April 27. Its second-quarter results included $58 billion in revenue and $13.6 billion in net profit, or $2.33 earnings per share (EPS).

These numbers mark Apple's second-best financial quarter to date. Revenue is up 27%, and EPS up 40%, from Q2 of last year. Its second-quarter results for 2014 generated $45.6 billion in revenue and $10.2 billion in net profit, or $1.66 per share.

In total, Apple sold 61.2 million iPhones, 12.6 million iPads and 4.6 million Macintosh computers. The company also saw record sales for its App Store, which saw 29% year-over-year growth.

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Earnings were largely driven by the success of iPhone 6 and 6 Plus, which continue to prove to be strong growth drivers after helping Apple achieve its most profitable quarter ever in Q1. Revenue growth for iPhone was up 55% from Q2 of last year and has been especially robust in emerging markets, said CEO Tim Cook.

The Mac has seen 10% growth from last year's second quarter, its success driven by updates to the MacBook Pro and MacBook Air announced in March. Its success is noteworthy given that the overall PC market is seeing markedly slow growth, as indicated by data from IDC.

iPad sales of 12.6 million in Q2 marked a decrease from 16.4 million last quarter. Cook mentioned that the iPad is proving especially popular in the enterprise and that the majority of corporations planning to invest in tablets over the next six months intend to purchase iPads.

"We are thrilled by the continued strength of iPhone, Mac, and the App Store, which drove our best March quarter results ever," said Cook 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."

Going forward, Cook highlighted three products that will drive Apple's future success:

  • The new MacBook: offers a new force-touch trackpad and new keyboard functionality
  • HBO partnership: enables Apple customers to stream HBO content on Apple devices
  • Apple Watch: just released to consumers on April 24 and has more than 3,500 apps already available

Apple predicts that Q3 will generate revenue between $46 billion and $48 billion. Its shares were up 1% after hours, reports CNN.

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