Company’s Quarterly profits smashes the Wall Street expectations
All previous highs of the Wall Street have been wiped out by the latest sparkling figures put up by the tech giant Apple Inc with the help of its latest big screen smart device introduction-iPhone 6 and 6 plus. Some big numbers were expected yet they came out to be some never before, record breaking quarterly results for the company which in fact wasn’t expected by the makers too. With this the company doesn’t only surpass its own achievements in the global markets but also leaves behind the scoring veterans from the Oil and Gas sector which usual bag the top spots.
Highest Quarterly Profit Making Ever:
According to the latest revenue reports released for the quarter of the fiscal year; the company has submitted a 70% hike in the iPhone sales section in China its largest selling market. Asia has indeed being the empowering region which has been the most active corner of the globe for the sales of the latest iPhone series. According to another report from the tech market, the company has sold around 74.5 million units for iPhone alone in the last business quarter ended till 27th December, 2014. This figure was way beyond than the expectations as global experts had predicted a sales of around or lesser than 70 million units. As a result revenues soar to $74.6 billion from the compared previous year’s 57.6 billion.
The record breaking quarterly profits has bought in a profit of $18 billion which the highest profit is ever earned per quarter by any private company around the globe. Presently, Apple Inc’s cash pile equals $178 billion which is sufficient to provide $556 to every American or to purchase IBM.
Country based Sales:
Even though most economies around the world have been struggling for a while, it hasn’t been a matter of concern for Apple business strategies and its sales chart. In china alone the iPhone series has registered a 70% increase whereas in countries such as Brazil and Singapore the sales have doubled up. Going by the news from unauthorized sources the company is further planning to open new stores in China in order to accelerate the sales and push it to a newer level.
Future Plans-Things to come:
Tim Cook the current CEO of the concern is more than excited with the success achieved and is already in news for the upcoming launch of Apple Watch which is expected in the market by April, 2015. The latest mobile payment application is another BIG THING: ‘Apple Pay, Your new wallet’ which is spoken about to be the payment mode of the future.
Some tit-bits about the historic quarter for Apple:
Apple has sold 74.5 million iPhone units in a single quarter, which means 34,000 units sold every hour.
At this pace the company will sell enough iPhones required to wrap the entire equator of the Earth.
With this blasting outcome for the quarter, the company at present can buy big brands such like Twitter, SpaceX, Snapchat, Airbnb, and Netflix along with the likes of Uber, Dropbox and Tesla and still will have $20 billion left in its kitty.