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28th of September 2020
Home > Blog > Blog > Apple posts the biggest quarterly profit in history

Apple reported a net profit of $18bn (£11.8bn) in its fiscal first quarter, which tops the $15.9bn made by ExxonMobil in the second quarter of 2012, according to Standard and Poor’s.

Record sales of iPhones were behind the surge in profits.

Apple sold 74.5 million iPhones in the three months to 27 December – well ahead of most analysts’ expectations.

In a conference call with financial analysts Apple’s chief executive Tim Cook said that demand for phones was “staggering”.

However, sales of the iPad continued to disappoint, falling by 22% in 2014 from a year earlier.