“Demand was so strong for the iPhone 6 in Apple’s first quarter that even bulls who expected the computer giant to beat estimates and knew the iPhone 6 was wildly popular were stunned by the magnitude of the outperformance,” Susan Kalla reports for Forbes. “The iPhone 6 sales were skewed toward international markets and sales grew 100% in mainland China despite the delayed launch in late October.”
“Apple first quarter revenues were $74.6 billion, about 15% above the Wall Street consensus of $65 billion,” Kalla reports. “EPS was $3.06 per share, 18% above the consensus estimates of $2.60 per share.”
Kalla reports, “‘The volume of iPhone sales was hard to comprehend. Think of it this way, we sold 34,000 iPhones per hour, 24 hours a day, every day of the quarter,’ said an astonished Tim Cook, CEO, during the conference call.”
Read more in the full article here.
Related articles:
Analysts race to boost Apple price targets – January 28, 2015
Apple iPhone No. 1 in China smartphone market share – January 27, 2015
Apple Inc. posts biggest quarterly earnings of any company ever – January 27, 2015
Apple destroys Street with all-time record earnings – January 27, 2015
MacDailyNews presents live notes from Apple’s Q414 Conference Call – January 27, 2015