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Apple reports biggest quarterly profit in history

Apple reports biggest quarterly profit in history

US technology giant Apple has reported the biggest quarterly profit ever made by a public company.  Apple reported a net profit of $18bn 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

The company posted record quarterly revenue of $74.6 billion, up 30% year-on-year, and record quarterly net profit of $18 billion, a 37% increase on the same quarter last year.

Apple reports biggest quarterly profit in history

Earnings per share were up even more, at 48% to $3.06, reflecting the reduced number of shares outstanding as a result of the company’s on-going share buyback programme. This was also an all-time quarterly record and the results would have been even stronger in the absence of significant foreign exchange headwinds, reflecting the recent strength of the US dollar….

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