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UPDATE 1-Apple sells record 74.5 mln iPhones in quarter, revenue beats
January 27, 2015 / 9:49 PM / in 3 years

UPDATE 1-Apple sells record 74.5 mln iPhones in quarter, revenue beats

(Adds CFO comments)

By Christina Farr and Supantha Mukherjee

Jan 27 (Reuters) - Apple Inc posted a far better-than-expected 29.5 percent jump in quarterly revenue, driven by record sales of iPhone 6 and 6 Plus smartphones in the holiday shopping season and strong sales in China.

The company sold 74.5 million iPhones in its fiscal first quarter ended Dec. 27. Revenue rose to $74.6 billion from $57.6 billion a year earlier. ]

Analysts on average had expected revenue of $67.69 billion, according to Thomson Reuters I/B/E/S.

Apple Chief Financial Officer Luca Maestri told Reuters that the company did not sell more iPhones in China than the United States, despite some earlier predictions by research analysts.

But revenues in China were up 70 percent this quarter, in large part due to a massive bump in iPhone sales. The company’s success in the competitive Chinese market can be attributed to its partnership with China Mobile, the largest global mobile carrier, and the appeal of the larger screen size of the iPhone 6 and 6 Plus.

Maestri said he does not expect Apple to struggle on account of China’s slipping economic growth. Maestri said Apple “feels good” about its position in China.

“We haven’t seen a slow down,” he added.

Maestri also said the company doubled iPhone sales in Singapore and Brazil.

Reporting by Supantha Mukherjee in Bengaluru; and Christina Farr in San Francisco; Editing by Peter Henderson, Ted Kerr and Lisa Shumaker

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