Apple posts $58bn sales record on iPhone demand, China growth

The U.S. technology giant posted quarterly revenues of $58 billion. (File: AP)

Apple has reported record sales during its second financial quarter, boosted by higher demand for iPhones and 71 percent sales growth in China.

The U.S. technology giant posted quarterly revenues of $58 billion and net profit of $13.6bn, compared with $45.6bn and $10.2bn a year ago.

That marked a record performance for Apple’s second quarter, with the best-ever sales of iPhone and Mac computers for the period, and the best App Store performance in its history.

Tim Cook, Apple’s CEO, said in a statement that the company had seen the “best March quarter results ever.”

“We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.”

International sales accounted for 69 percent of the quarter’s revenue, Apple said – with revenues from China up 71 percent year-on-year.

The company does not break down its results for the Middle East.

SHOW MORE
Last Update: Wednesday, 20 May 2020 KSA 09:47 - GMT 06:47
Top