Apple Inc. turned in another huge quarter, with profits surging more than 30 percent, driven by global sales of the iPhone 6 and 6S. Despite fears that the Chinese stock market crash would cool their love of all things Apple, sales in that country were up 99 percent from the comparable period last year.
Apple posted earnings of $11.1 billion on $51.5 billion revenue, or $1.96 per share, beating analyst projections of $10.7 billion on $51.1 billion in revenue. That compares with $8.5 billion in profit on $42.1 billion in revenue last year. Earnings per share were up 54 cents during the same period.
“Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28 percent to nearly $234 billion. This continued success is the result of our commitment to making the best, most innovative products on earth, and it’s a testament to the tremendous execution by our teams,” Apple CEO Tim Cook said in a statement. “We are heading into the holidays with our strongest product lineup yet, including iPhone 6S and iPhone 6S Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV, which begins shipping this week.”
Apple’s iPhone accounted for most of its revenue, with 48 million units sold, up 22 percent from 39.3 million during the same period last year. The smartphone came in within analyst expectations of 48 to 49 million units for the period. But analysts are looking to the all-important holiday quarter, when Apple sold 74.5 million iPhones last year.