Apple has announced its quarterly earnings report for Q1 2015 and the results are even better than expected.
The iPhone is the king of the earnings, Apple sold 74 million units worldwide, beating its previous record. Even though Apple did not disclose the individual sales, it is highly likely the iPhone 6 sold more units than any other smartphone over the quarter.
In Asia, Apple noticed huge gains in iPhone 6 and iPhone 6 Plus sales, alongside continued growth in the United States, Western Europe and Latin America. More iPhones were sold in China than the United States across all of 2014, for the first time.
Raw numbers show Apple had the best quarter of any company ever, with $74 billion in revenue and $18.4 billion in net profit. Both announcements beat the various oil and gas companies holding the records, showing Apple’s complete dominance.
To put this into perspective, Apple’s iPhone business alone generates more revenue than Google and Microsoft combined, noted as the second and third place technology firms.
Apple is in a better situation since it sells all of the hardware, while Microsoft and Google leave that to OEM partners. It is also reaping in the rewards of a popular marketplace for iOS, although iTunes sales are still declining and Apple Pay isn’t even 0.01 percent of the total revenue.
Even though Apple’s portfolio looks excellent, there is always “next year” when Apple needs to once again win over customers, or face drops in stock price and consumer interest. While Google and Microsoft have been able to create markets through various software and service, most of Apple’s revenue is tied to its hardware business, and the continued success of said hardware business.
Still, Apple is the most popular and relevant brand in the world, so it doesn’t seem like the hardware business will disappear any time soon.