APPLE ANNOUNCE LEAP IN PROFITS
Apple has enjoyed a 33 per cent leap in quarterly profits to $13.6bn (£8.9bn) thanks to strong iPhone sales.
Record results for the first three months of the year also showed revenue reached $58bn (£38bn), up from $45.6bn (£30bn) in the same period the year before.
Apple sold more than 61 million phones in the period, which delivered two thirds of its revenue and marked a 40 per cent increase on the first three months of 2014.
Tim Cook, Apple’s chief executive, said: “We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our 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.”
Apple’s share price, which has gained more than 50 per cent in the past year, rose 2 per cent following the release of the results.