The Business Times

Apple's back to record-busting earnings

Published Tue, Oct 21, 2014 · 09:50 PM
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San Francisco

APPLE smashed earnings expectations as new big-screen iPhones helped propel the California tech giant's profit and revenue in the last quarter.

The company reported on Monday that profit rose 13 per cent to US$8.5 billion, as revenues jumped to US$42.1 billion in the fiscal fourth quarter ended Sept 27.

It said it sold more than 39 million iPhones in the quarter, boosted by last month's launch of the large-screen iPhone 6 and iPhone 6 Plus, which hit some markets on Sept 19. That compared with 33.8 million in the same period a year ago.

The iPhone accounted for more than US$23 billion in revenue, more than half of overall revenue for the quarter.

Sales of iPads - which may have been lower ahead of the October launch of new models - fell from a year earlier to 12.3 million, raking…

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