Apple Earnings Obliterate Projections

Apple Earnings Obliterate ProjectionsOn Monday afternoon, Apple reported record September earnings for its Q4 of 2014.

Largely obliterating analyst projections, Apple was firing on all cylinders last quarter — except when it came to its iPad.

Nonetheless, despite selling nearly one million fewer iPads in the same quarter one year ago (12.3 million sold in Q4 of 2014 vs. 13.1 million sold in Q4 of 2013), Apple is optimistic that its recently refreshed iPads will help accelerate its tablet sales in the months ahead.

The big star of Apple’s earnings report was, not surprisingly, the iPhone. Apple sold 39.3 million iPhones during the quarter ending September 30th.

All told, the company posted quarterly revenue of $42.1 billion and quarterly net profit of $8.5 billion, or $1.42 per diluted share.

Analysts were expecting quarterly earnings of $39.84 billion.

“Our fiscal 2014 was one for the record books, including the biggest iPhone launch ever with iPhone 6 and iPhone 6 Plus,” said Apple CEO Tim Cook. “With amazing innovations in our new iPhones, iPads and Macs, as well as iOS 8 and OS X Yosemite, we are heading into the holidays with Apple’s strongest product lineup ever. We are also incredibly excited about Apple Watch and other great products and services in the pipeline for 2015.”