Apple posts record-smashing Q1 results as iPhone sales soar
Apple’s results for the fiscal first quarter of 2015 are easily the most hotly anticipated earnings report of the season. On the back of the company’s iPhone 6 and iPhone 6 Plus launch in mid-September, the holiday quarter marks Apple’s first full quarter of next-generation iPhone sales. With pent-up demand for iPhones with larger displays and a record holiday shopping season in 2014, expectations were sky-high ahead of Apple’s earnings report on Tuesday evening.
Did Apple deliver?
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Wall Street had very lofty expectations for Apple’s fiscal first quarter. Analysts’ consensus called for earnings of $2.60 per share on record revenue totaling $67.69 billion. The numbers are now in, and Apple managed to post a profit of $3.06 per share on $74.6 billion in sales.
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Of note, each of those figures marks a quarterly record for the Cupertino, California-based company.
Where iPhone sales are concerned, Wall Street was expecting sales to total 66.5 million units for the December quarter thanks to unprecedented demand for Apple’s new iPhone 6 and iPhone 6 Plus. Actual iPhone sales came in at 74.4 million units during fiscal Q1, which is also a quarterly record for Apple.
In the same quarter last year, Apple sold 51 million iPhones.
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