Ok , ok, I couldn’t resist the headlline pun. Cheap I know but it’s early still and I need an easy in!
News out earlier saw Apple post the largest public company quarter net profits ever recorded at USD 18.1 bln but there are still complaints from company bosses about the negative impact of the surging greenback
- 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”.
- sales of the iPad continued to disappoint, falling by 18% in 2014 from a year earlier.
- demand for Apple’s larger iPhone 6 Plus model appeared to help boost profits and increase the iPhone’s gross profit margin – or how much Apple makes per phone – by 2% to 39.9%.
However, on a conference call to discuss earnings, Mr Cook complained of “fierce foreign exchange volatility”, which added Apple to a growing list of US firms who have been hit by the strong dollar abroad, and said that currency fluctuations shaved 4% from its first-quarter revenue.
We’ve discussed the strong $ and its impact this year on the US economy. Apple posts record profits and still has a need/cause to complain/warn. Seems to me like many others will be feeling the pain a lot more.
The BBC has more on the profits here
Apple continues its world domination
