Year-on-year revenue rise for Apple

Thursday 24 April 2014

Technology giant Apple has experienced a revenue boost on the same time last year, its quarterly figures have shown.

The company posted quarterly revenue of 45.6 billion US dollars (£27.2bn) and quarterly net profit of 10.2 billion dollars (£6.1bn) - both up on the same period last year.

These results compare with revenue of 43.6 billion US dollars (£26 million) and net profit of 9.5 billion US dollars (£5.7 billion) a year ago. The figures, however, are down on the last quarter - which took in new product launches.

Tim Cook, Apple chief executive, said: "We're very proud of our quarterly results, especially our strong iPhone sales and record revenue from services. We're eagerly looking forward to introducing more new products and services that only Apple could bring to market."

Last quarter, n ew landmark products helped reverse a profits slump and post record revenue figures for Apple It was the first period fully taking into account sales of the iPhone 5s and iPhone 5c, as well as marking the launch of the iPad Air and iPad mini.

Apple's revenues hit 57.6 billion US dollars (£34.3bn) for the last three months of 2013, a new quarterly record for the company Profits of 13.1 billion dollars (£7.8bn) were also made - equal with the record profits set 12 months previously.

Speaking after the company's figures were released last night, Peter Oppenheimer, Apple's chief financial officer, said: "We generated 13.5 billion dollars (£8bn) in cash flow from operations and returned almost 21 billion dollars in cash to shareholders through dividends and share repurchases during the March quarter.

"That brings cumulative payments under our capital return program to 66 billion dollars (£39 billion)."

Apple's (AAPL) share at the close of the US market this evening was 524.75 US dollars (£313bn) - down 1.31% on the start of the day.