By Jim Karpen on Wed, 01/28/2015
Apple's quarterly results yesterday smashed expectations and set a record for the highest quarterly profit by any publicly traded company in history. The company had revenue of $74.6 billion and a profit of $18 billion. No other company worldwide has had a quarterly profit as high as that. iPhone sales were the engine for this huge income. Whereas analysts had been optimistically predicting sales of between 65–69 million iPhones, Apple reported sales of 74.6 million. Just to put that in perspective, that amounts to 34,000 iPhones every hour every of the day, every day of the week for the entire quarter. iPhone sales in China, Hong Kong, and Taiwan were a big factor in Apple's huge revenue, bringing in $16 billion, with the iPhone now being the highest-selling smartphone in China.