APPLE beat both analyst and company expectations as “off the charts” iPhone demand lead to bumper profits and revenues.
Chief executive Tim Cook also said that 2014 was “one for the record books” after last nights release of earnings results for the three months to October.
The company posted quarterly net profit of $8.5bn – an increase of $1bn on the same period last year. The iPhone 6 and 6 plus contributed to higher revenues, despite issues with the device bending. Quarterly iPhones sales topped 39.3m, a 16 per cent year-on-year increase.
Higher prices meant this led to a 21 per cent jump in iPhone revenues. Total revenue was up 12 per cent to $42.1bn which smashed analyst forecasts of $38bn.
Mac sales also provided a boost to revenues. However, sales of the iPad and iPod disappointed, falling on the year. Shares climbed above $100 in after hours trading.
Quarterly Profit $8.5bn
iPhones sold 39.3m in last quarter