Apple profit up as China sales surge


SAN FRANCISCO:Apple quarterly profit climbed with strong demand for iPhones, particularly in China where the California company’s revenue surged.

The only damper in strong earnings reported on Tuesday was a decline in
iPad tablet sales.

The California-based company posted a profit of $7.7 billion on revenue of $37.4 billion in the three months period to June 28, an increase of 11.6 percent from a year ago.

Apple said it sold 35.2 million iPhones in the quarter, a rise of nearly 13 percent from the same period a year earlier.

“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest (earnings per share) growth rate in seven quarters,” Apple chief executive Tim Cook said in an earnings release.

Apple also declared a cash dividend of 47 cents per share of common stock to be paid at the close of business on August 11.

Apple shares slipped less than a percent to $94.23 in after-market trades that followed the release of the earnings figures.

Source : APP

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