SAN FRANCISCO: Apple soars high in profit margin. Banking on the s new plus-sized iPhones, the company smash sales records for the holiday season.
Apple said on Tuesday that it sold 74.5 million iPhones during the three months that ended December 31, beating analysts’ expectations for the latest models of Apple’s most popular gadget, introduced in September.
The surge in iPhone sales drove the company’s total revenue to $74.6 billion, up 30% from a year earlier. CEO Tim Cook said on a call with analysts that demand for the phones was “staggering,” and noted that results would have been even higher if not for the impact of the strong dollar on overseas sales. Net income rose 38% to $18 billion, as Apple reported earnings of $3.06 a share. Analysts surveyed by FactSet were expecting earnings of $2.60 a share on revenue of $67.39 billion.