Date
21 September 2017
Mainland Chinese have been snapping up the iPhone 6. Photo: Bloomberg
Mainland Chinese have been snapping up the iPhone 6. Photo: Bloomberg

iPhone sales soar, driving Apple profit to record

Apple posted the largest quarterly net income of any public company in history as record iPhone sales beat forecasts, the Financial Times reported.

“Demand for iPhone has been staggering, shattering our high expectations,” Apple chief executive Tim Cook said. “This volume is hard to comprehend.”

Net profit for the three months to December grew 37 per cent to US$18 billion, Apple said on Tuesday, beating ExxonMobil’s 2012 record of US$15.9 billion, Standard & Poor’s figures show.

Sales of the iPhone leapt 46 per cent from a year earlier to 74.5 million units in the crucial holiday shopping quarter.

Revenues grew 30 per cent year on year to US$74.6 billion. 

Luca Maestri, Apple’s chief financial officer, told the newspaper“For a company of our size, that is not a small feat.”

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