It was an excellent quarter for the iPhone maker as Apple Inc. (NASDAQ:AAPL) predicted a better-than-expected quarter fueled by the success of its latest iPhone 6. The company witnessed strong growth in Mac computer sales surpassing the market expectations.
The iPhone maker reported its fourth quarter 2014 results making it one of the most successful quarters of the company. The company released forecasts for its fiscal 2015 first quarter expecting revenue of $63.5 billion to $66.5 billion. The operating expenses are likely to lie between $5.4 billion and $5.5 billion along with other expenses of $325 million. The shares of Apple increased up to $101.27 in the afterhours trade.
Apple Inc. (NASDAQ:AAPL) is expecting up to 16% increase in iPhone sales, thanks to its bigger iPhone 6 & iPhone 6 Plus model. However, the real reason to worry for the company is its declining iPad sales, as the company reported decline in iPad sales in the third consecutive quarter. The company sold 12.3 million tablet devices with a 13% decline from year ago period and 7% when compared with the second quarter 2014.
Apple collaborated with International Business Machines Corp. (NYSE:IBM) to improve the sales of iPad in the corporate community and according to Luca Maestri, CFO of Apple, the duo already has over 50 clients in their pocket. He added, “The level of interest from the corporate world has been incredible.”
Earlier, Apple Inc. (NASDAQ:AAPL) reported its fourth quarter 2014 results with net revenue of $42.1 billion and recorded profit of $8.5 billion. There was a significant improvement in its revenue from $37.5 billion reported in the same quarter last year. The company reported growth of 20% in EPS with $13.3 billion in cash flow from continued operations. Tim Cook, CEO of Apple, said,
“Our fiscal 2014 was one for the record books, including the biggest iPhone launch ever with iPhone 6 and iPhone 6 Plus.”
This article has been written by Prakash Pandey.