Apple cheered by strong sales of the iPhone

A visitor tries out a new iPad tablet computer at an Apple store
A visitor tries out a new iPad tablet computer at an Apple store
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Technology giant Apple has experienced a revenue boost on the same time last year, its quarterly figures have shown.

The company posted quarterly revenue of £27.2bn and quarterly net profit of £6.1bn – both up on the same period last year.

These results compare with revenue of £26m and net profit of £5.7bn a year ago.

The figures, however, are down on the last quarter – which took in new product launches.

Tim Cook, Apple chief executive, said: “We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services.

“We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”

Last quarter, new landmark products helped reverse a profits slump and post record revenue figures for Apple.

It was the first period fully taking into account sales of the iPhone 5s and iPhone 5c, as well as marking the launch of the iPad Air and iPad mini.

Apple’s revenues hit £34.3bn for the last three months of 2013, a new quarterly record for the company.

Profits of £7.8bn were also made – equal with the record profits set 12 months previously.

Speaking after the company’s figures were released on Wednesday night, Peter Oppenheimer, Apple’s chief financial officer, said: “We generated £8bn in cash flow from operations and returned almost 21 billion dollars in cash to shareholders through dividends and share repurchases during the March quarter.

“That brings cumulative payments under our capital return programme to 66 billion dollars (£39bn).”

Apple reported sales of 43.7 million iPhones in the March quarter, far outpacing the 38 million Wall Street had predicted.