Apple Posts $18 Billion USD in Profits, Largest in Its History

Apple‘s first quarter numbers have been released, and as expected, they are well into the billions. $18 billion USD in profits, to be exact. The tech giant accrued far above its projected earnings with $74.6 billion USD in revenue, led by sales of the iPhone, and holiday sales of the iPads and Macs. This is the company’s highest quarterly profit in history, with record breaking sales of its devices. By product, Apple sold 74.5 million iPhones, 21.4 million iPads and 5.52 million Macs, but despite higher sales for the iPhones and Macs, iPad sales were down from last year. The biggest driver of Apple’s astronomical earnings growth was China, where revenue was up 157% last quarter, with 70% year after year — more than double the acceleration seen anywhere else. This news comes at an exciting time for Apple as it also announced that it will begin shipping its new Apple Watch in April, and it will be interesting to see how this affects its seemingly behemoth growth.