Apple to record sales in the first quarter – more stores in China

Techcompany Apple has showed a record profit and sales during the three months period ended December 2014. According to the company  the net income rose to 18 billion dollars from 13 billion dollars year ago. And the earnings per share rose to 3,06 dollars from 20,7 dollars.  The revenues were 74,6 billion dollars, up 30 percent. The company has been increasing its R&D expenditures and it was 895 billion dollars compared to 1330 bilion dollars year ago.

Net cash increased to 19,5 billion dollars and the goodwil was 4,6 billion dollars. According to Apple its acquired intangible assets were 4,3 billion dollars. The sales rose 23 procent in the US, 20 per cent in Europe and 70 percent in China. iPhones sales grew 57 percent and the company has sold over 1 billion iOS devises since 2007. The sales from iPad fell 18 per cent to 21,4 million devises.

The company announced that they will open 25 new stores in China during the next two years and the deliveries of Apple smartwatch will start in April.

The company has given the below quidance for the second quarter:

  • revenue between $52 billion and $55 billion
  • gross margin between 38.5 percent and 39.5 percent
  • operating expenses between $5.4 billion and $5.5 billion
  • other income/(expense) of $350 million
  • tax rate of 26.3 percent