Apple has announced huge profits of $10.2bn for the second quarter of 2014, a rise on the same period last year when it made $9.5bn in profits.
The increase in income came from a rise in overall revenue, with the firm taking $45.6bn, up from the $43.6bn revenue it posted in the same period last year.
This was down on the $57.6bn in made in Q1 2014, though, when it also took in profits of $13.1bn. This is to be expected, though, given the bump caused by Christmas sales.
The iPhone remained the firm’s big hitter, with 43.7 million units sold in the quarter. This was down on the previous quarter, when 51 million were sold, but up on the same period in 2013, when it sold 37.4m million handsets.
The iPad fell further, with 16.3 million sold in the quarter, compared with 19.5 million sold in the same period last year and 26 million Q1 2014.
Mac computer sales hit 4.1 million, a rise of five percent compared with the same period last year, in another positive development for Apple.
CEO Tim Cook was understandably upbeat on the results and hinted that the firm was developing new products.
“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” he said. “We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”
Cook also revealed he has authorised an increase in the share buy-back scheme from $60bn to $90bn. “We are announcing a significant increase to our capital return program. We’re confident in Apple’s future and see tremendous value in Apple’s stock, so we’re continuing to allocate the majority of our program to share repurchases,” said Cook.
The continued strength at Apple comes as the firm faces increased competition from Android devices such as the Nexus 5 and Samsung Galaxy S5.
Despite the positive results some analysts sounded a note of caution, with Neil Mawston from Strategy Analytics telling V3 the iPad numbers would set alarm bells ringing at Apple.
"Apple's global iPad shipments were weak and the tablet market is slowing rapidly for Apple. Alarm bells will be ringing inside Apple's iPad division at the moment,” he said.
While things were better for iPhones, there is still cause for concern, Mawston said.
“Apple's global iPhone shipments this quarter were better than many expected, but the company's annual growth rate remains significantly slower than the overall industry average,” he noted.
“Apple has continued to lose volume share in the global smartphone market this quarter, and Apple continues to face intense competition from mass-market Android rivals like Samsung.”
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