Apple Reports Record First Quarter Results

By Helen Vince
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Apple has reported record first quarter results, with turnover 30% higher year on year at $74.6 billion and a net profit of $18 billion, which was 37% higher. International sales accounted for 65% of the quarter’s revenue.

The company said that its Q1 results were fueled by all-time record revenue from iPhone and Mac sales. iPhone unit sales of 74.5 million also set a new record. The outlook for the second quarter is turnover between $52 billion and $55 billion. 

Apple has overtaken Microsoft as the second largest manufacturer of mobile phone handsets in the world, though Apple’s record iPhone shipments in Q1 were entirely premium smartphones, while Microsoft’s smartphone shipments represent just 21% of its 50 million handset shipments.