Apple posts record $74.6 billion revenue; iPhone sales up, iPad sales down

Huge growth in iPhone sales brought in a record $51 billion revenue from phone sales alone, with the launch of the iPhone 6 and iPhone 6S helping Apple shift over 74 million units.

Apple reported iPad sales of 21.4 million for the same quarter (Q1 2015), bringing in just under $9 billion in revenue. These iPad figures were down on the previous year, however - a drop of 18 per cent in units sold and 22 per cent in revenue.

Revenue from "iPod, Apple TV, Beats Electronics" and other accessories came in at $2.7 billion, down five per cent year-on-year.

The total Apple quarterly revenue of $74.6 billion represented an overall year-on-year increase of 30 per cent, and is Apple's highest-ever recorded revenue. Accordingly, Apple also posted a record quarterly-net-profit of $18 billion.

Apple also revealed it now has $19.5 billion in "cash and cash equivalents" tucked-away in reserve.

Tim Cook, Apple’s CEO, said: "We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high. Our revenue grew 30 per cent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal."

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Joe is the Content Director for What Hi-Fi? and Future’s Product Testing, having previously been the Global Editor-in-Chief of What Hi-Fi?. He has worked on What Hi-Fi? across the print magazine and website for almost 20 years, writing news, reviews and features on everything from turntables to TVs, headphones to hi-fi separates. He has covered product launch events across the world, from Apple to Technics, Sony and Samsung; reported from CES, the Bristol Show, and Munich High End for many years; and written for sites such as the BBC, Stuff and The Guardian. In his spare time, he enjoys expanding his vinyl collection and cycling (not at the same time).