Apple announced financial results for the financial quarter ended 28 March 2015. The quarterly revenue of US$58 billion and net profit of US$13.6 billion were strong results, compared to the same quarter last year when revenue was US$45.6 billion and net profit was US$10.2 billion. Gross margin was 40.8 percent compared to 39.3 percent in the year-ago quarter. International sales accounted for 69 percent of the quarter’s revenue.
The iPhone, Mac and App Store all recorded record quarterly sales.
Apple’s expectations for the next quarter are similarly solid with expected revenue between US$46 billion and US$48 billion with gross margin between 38.5 percent and 39.5 percent. Operating expenses between US$5.65 billion and US$5.75 billion.
Apple CEO Tim Cook made specific mention of Apple’s continuing push into renewables. Following its purchase of a forest, it is establishing a 40-megawatt solar energy farm in China to support manufacturing facilities.
In total, 61.2 million iPhones were sold in the quarter, that’s 46 percent growth from last year. Mac sales were up to 4.6 million units for the quarter. With 10 percent growth, it flies in the face of IDC’s recent analysis of an overall seven percent contraction in the PC market.
Apple sold 12.6 million iPads, a drop from 16.4 million from last year, although it did record best ever sales in Japan and China.
Apple has a very strong bank balance with US$193.5 billion in cash, with almost US$120 billion of this held outside the US.