Apple Inc Earnings For 2QFY15

The iPhone makers reported an exceptional quarter earnings from the significant sales in China.

Apple Inc (AAPL) has been doing wonders in the tech world with the extraordinary sales of the iPhone that it reported in its quarterly report presented on April 27, 2015. The tech company was seen to have recorded an exceptionally high revenue increment in the quarter which was due to the strong sales of the new iPhone that was carried out in the previous fall. The kind of sales that the firm has been experiencing is one of its kinds.

In the much awaited quarter report, Apple Inc declared that it sold a massive $61.2 million items of the smartphone in a period of three months which the analysts believe is a number to be reckoned with. These sales have arisen by a huge 40% as compared to the previous year’s same quarter. One of the main reasons for such a rise in the sales was due the successful penetration that the company managed to do in China which was marked as one of the biggest achievements of the iPhone makers.

The revenue for Apple Inc came around $59 billion for the three months quarter with the earnings per share rising up to $2.33, as per a report by WSJ. According to the average selling price, in which the iPhone were sold and bought at, the price tag of $659 showed an increment of $60 if compared to the price the smartphones were previously sold at. In an interview, Tim Cook, who is the CEO of the Silicon Valley based company, told the WSJ that this time around, the company has experienced an unusual growth of customers switching from other phones to Apple phones which has been marked as another jewel in the firm’s crown.

The gross margin that was received by Apple in the quarterly results came around with a rise of 40.8% which was higher than the expected margin of 38.5%. Previously, the software company had decided to return around $130 billion to shareholders in the form of dividend but an increase was recorded in that department as well, as by March 2017, the firm has planned to return $200 billion to its shareholders.

The company has also managed to raise the cash revenue to $193.5 billion which totaled around only $178 billion by the end of the previous quarter.