Yesterday, Apple released its quarterly revenue results for the first three months of 2015.

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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.

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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.