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Apple Reports Biggest Profit Ever For a Public Company

The Apple logo is lit on the first day of sale for the iPhone 6 and iPhone 6 Plus,   in Sydney

Despite the criticism from fault-finding cynics about the iPhone 6 shortly after its release (that the screen was too big, that it could bend a bit) and supposed tales of woe over sales in China, Apple cleaned up. Not only did it perform superbly well, Apple reported a net profit of $18 billion, the highest amount ever for a publicly traded company, soundly beating ExxonMobil’s record of $15.9 billion for the second quarter of 2012, according to the BBC. Given that oil prices are falling through the floor, Exxon is not likely to come back again and challenge Apple with a new record.

It paid to listen to Stephen Fry whose tribute to the iPhone 6 upon its release was worthy of a literary award. He’s usually right about these things, you know.

Apple sold 74.5 million iPhones in the three months leading up to December 27 where analysts were expecting  only 70 million. While CEO Tim Cook himself was surprised by demand, which he said was “staggering” sales of the iPad were disappointing, and dropped 22%. However. one explanation is the larger screen in iPhones might be making the iPad almost obsolete.

China, which was rumored to have been weak in the Fall for Apple, couldn’t have been stronger for the company, and the China voted loud and clear that it wants Apple products. Now Apple is the number one smartphone company in China. Tim Cook celebrated the “first inning” of Apple Pay and said the Apple Watch is going to be the company’s next big thing, with a spring release.

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