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Apple Reports the Biggest Profit in Corporate History

shriram | 28th January 2015 | Information Technology
Apple Reports the Biggest Profit in Corporate History

    Apple reported the largest net income of any public company in history in the three months to December, as record iPhone sales of 74.5m units beat even the most bullish Wall Street forecasts.

Profit of $18 billion was the biggest ever reported by a public company, worldwide, according to SandP analyst Howard Silverblatt. Apple's cash pile is now $178 billion, enough to buy IBM or the equivalent to $556 for every American.

Apple Chief Executive Officer Tim Cook said the Cupertino, California-based company would release its next product, the Apple Watch, in April.

Shares rose about 5 per cent to $114.90 in after-hours trade.


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