Apple has just revealed its financial results for its fiscal fourth quarter ended September 26, 2015. The report indicates that the company posted a record breaking net income of $53.4 billion, the highest annual profit in corporate history.
The Telegraph says that this figure tops the $45.2 billion reported by ExxonMobil in 2008.
For the quarter, the Cupertino based tech giant posted quarterly revenue of $51.5 billion, also a record, and a quarterly net profit of $11.1 billion, which equates to $1.96 per diluted share. During the same time frame last year, Apple posted revenue of $42.1 billion and net profit of $8.5 billion, or $1.42 per diluted share. Gross margin was 39.9 percent compared to 38 percent last year. 62 percent of revenues came from international sales.
"Fiscal 2015 was Apple's most successful year ever, with revenue growing 28% to nearly $234 billion. This continued success is the result of our commitment to making the best, most innovative products on earth, and it's a testament to the tremendous execution by our teams," said Tim Cook, Apple's CEO in the release. "We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week."
For the upcoming holiday season, Apple is expecting even bigger figures. It estimates Q1 2016 revenue between $75.5 billion and $77.5 billion thanks to its new lineup of products such as the revamped Apple TV and iPad Pro.
The company is hoping that the new keyboard and stylus assisted tablet can help boost sales in the iPad family of products. The report revealed that iPad sales dropped 19.5%. It's the first time Apple has sold less than 10 million iPads since Q4 2011.
