Yesterday, Apple released its quarterly revenue results for the first three months of 2015.
The company reported that its quarterly revenue has seen a 27% rise thanks to the success of the iPhone 6 and iPhone 6 Plus. Apple sold over 61 million iPhone in the March 2015 quarter, which translates to about 40% more than the same quarter for 2014. iPhone sales have also sky-rocketed in China and saw an increase of 72% in that territory, which means that sales in China have surpassed the sales in the US where the company is based.
Apple remains the most valued publicly traded US company and has reported that its net income has risen to $13.57 billion from $10.22 billion in the past year. This translates into share prices rising from $1.66 per share to $2.33 per share.
The iPad continues to show slow sales and upgrades, with Apple reporting that iPad sales has seen a 23% decline in the past year. These results show that iPads have a slower upgrade cycle and also the bigger screens on the iPhone 6 series could mean that consumers would rather have a smartphone with a bigger screen than a tablet.
The company has over $200 billion in cold hard cash and has raised its capital return to shareholders for the third time in three years from $130 billion last year to $200 billion this year. It also increased its share repurchase authorisation to $140 billion from $90 billion.
Apple CEO, Tim Cook said yesterday that:
We believe Apple has a bright future ahead and the unprecedented size of our capital return program reflects that strong confidence.