Yesterday saw tech giants (and money-printers for fun) Apple release the figures for their second quarter earnings and, surprise, they are still making a crazy amount of dosh.
Their strong second quarter earnings are based off the back of the ever-increasing iPhone sales, with Apple raking in $58 billion in revenue, a remarkable 27% increase from this time last year. The increased sales saw the company’s profits increase almost a third, coming in at $13,6 billion. Here’s TIME with some more number-crunching:
Apple said Monday that it sold almost 61.2 million iPhones in the second quarter, which is almost 40% more than in the same period last year. That beat analyst predictions of 56.8 million iPhones. The smartphones brought in more than $40 billion — or better than 69% of the company’s total revenue.
“We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles,” CEO Tim Cook said in a statement.
Now you wouldn’t expect sales to slow down in the next quarter either, considering the Apple Watch is smashing all kinds of records, but projections for the third quarter range between $46 billion and $48 billion.
Looks like it might be time to release another iPhone guys, it seems people cannot live with the shame of having a slightly outdated model.
[source:time]
