Booming iPhone 6 sales fuel Apple's second-best quarter ever
Willie Grace | 4/28/2015, noon
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China. Next to the United States, China is now Apple's largest market. Apple saw record sales in China, where revenue grew by a stunning 71% year-over-year. Sales were boosted by Chinese New Year, which fell in January.
The iPhone led the way, but Mac sales were up 31%, and iTunes sales doubled. The iPad even had its best quarter ever in China.
By the numbers. Overall, Apple said its net income rose to $13.6 billion, or $2.33 per share, up 33% from a year earlier. Analysts polled by Thomson Reuters had forecast earnings of $2.16 per share.
The Cupertino, Calif.-based company posted $58 billion in sales, up 27%, easily topping analysts' forecasts of $56.1 billion.
For the current quarter, Apple anticipates revenue of between $46 billion and $48 billion, in line with analysts' forecasts.
The company ended the quarter with a jaw-dropping $192 billion in cash -- just about enough to buy Google.
Apple also announced Monday that it would increase its dividend by 11% to 52 cents per share. The company is also upping its stock buyback program to $140 billion, up from $90 billion. In all, Apple said it now plans to spend $200 billion on its capital return program through March 2017.
That "reflects our strong confidence in what lies ahead for Apple," Cook noted.
Shares of Apple rose more than 1% after hours.
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