Apple has just posted its fiscal Q2 2014 earnings, with a massive $45.6 billion in revenue. From that, there is $10.2 billion in net profit, providing $11.62 per share. When comparing it year-over-year, Apple is up 4.6% in revenue, and 15.2% in EPS.
Analysts have said that the company has faced a flat quarter, with flat revenue, flat gross margin, flat net profit - flat everywhere. This is due to a slump in iPad sales, but it would've been worse if it wasn't for increased iPhone sales - a slight increase at that. But, even then, Apple performed better than analysts' expectations. Why? China.
During the three-month period, Apple sold 43.7 million iPhones, 16.4 million iPads and 4.1 million Macs. Compared to the same quarter of last year, iPhone sales increased by 16.8%, but iPad sales actually declined by 15.9% - a big jump. Apple CEO Tim Cook said: "We're very proud of our quarterly results, especially our strong iPhone sales and record revenue from services. We're eagerly looking forward to introducing more new products and services that only Apple could bring to market".