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Apple Reports Largest Profits Ever Made by Public Company

Apple Reports Largest Profits Ever Made by Public Company

Apple’s quarterly profit report is the largest ever made by a public company. They announced a net profit of $18 billion in the first quarter which exceeds ExxonMobil’s $15.9 billion made in the second quarter of 2012.

Whilst iPhone sales take the credit for the swell in profits; iPad sales saw a drop of 18% compared with the previous year (2013). Between 27 September an 2 December 2014, Apple surpassed the predictions of many analysts by selling 74.5 million iPhones with demand for the new iPhone 6 appeared to be responsible for increasing profits and also the amount of profit made per phone.

The share price rose over 5% in trading after the news broke and the US markets closed.

It is thought that the popularity of the new iPhone is responsible for the decrease in iPad sales as well as by laptop sales and other tablets on the market.

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