Apple Q4 Revenues Up 22 Per Cent to $52bn

Apple’s China business doubled compared to the previous quarter, to 12.5 billion dollars, about a quarter of total revenues.

Apple’s revenue for the quarter was $51.5 billion and net profit was $11.1 billion.

Apple CEO Tim Cook celebrated the earning figures today: “Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28% to almost $234 billion”.

The giant tech company reported another quarter of record earnings on Tuesday, boosted by surging sales in China. According to the company, 48 million iPhones were sold in the three-month period ending September 26.

Apple’s stock rose slightly after the company issued its report, then settled near the day’s closing price of $114.55.

Sales of the iPad may be helped next quarter, when holiday shoppers head out to pick up new tablets, including Apple’s recently released iPad Pro, with its 12.9-inch display. It faces tough competition from Chinese domestic smartphone makers such as Xiaomi and Huawei even though it’s new launch products, large-screen iPhone 6 and iPhone 6 plus a year ago added as a catalyst to its sales in China.

Mac sales too continued to rise, despite bleak PC market. The expansion in the availability of Apple Watch and all time records for Mac sales and revenue from services had a lot of contribution. This is especially crucial as iPhone 6S has only been on sale for a short eriod of time during Q4.

Apple’s aggregate cash supply is now at a whopping $205 billion – up over $2 billion.

Apple relies heavily on iPhone sales, which contribute more than two-thirds of its revenue.

Apple expects revenues for the next quarter to be between $75.5 billion (£49.5bn) and $77.7 billion (£50.8bn), but there are concerns among investors as to how long Apple can keep its winning streak going. If revenue lands anywhere in that range, it would be an all-time Apple sales record for any quarter.

The remaining category Apple refers to as “other products”, covering the Apple Watch, iPod, Beats headphones, Apple TV, AirPort routers, and other accessories, booked $3.05 billion for the quarter, compared to $1.9 billion for the same period in 2014.