Info-tech

Apple posts record net profit in Q3 on strong iPhone sales

DPA Los Angeles | Updated on July 23, 2014

Apple's June quarter revenue was fuelled by strong sales of iPhone and Mac.

Company reports highest EPS growth rate in seven quarters

Apple reported a net profit of $7.7 billion, or $1.28 per share, for the third quarter of 2014, the Cupertino, California, company said on Tuesday, citing strong iPhone sales.

Revenue rose to $37.4 billion, up 6 per cent compared to the third quarter of 2013.

“Our record June quarter revenue was fuelled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” Apple’s chief executive Tim Cook said.

“We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce.” Quarterly iPhone sales reached 35.2 million units, up from 31.2 million a year ago.

Published on July 23, 2014

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