Apple’s quarterly profit set new world record for any company, says Standard & Poor’s
Apple didn’t just set a new record for the company when it beat every forecast in the Q1 results announced yesterday, it set a new world record for the most profitable quarter of any company in history, says credit ratings giant Standard & Poor’s. Its net profit of $18B far exceeded the previous record of $15.9B, set by oil company ExxonMobil back in 2012.
With such huge numbers difficult to grasp, there have been various attempts around the net to put the numbers into perspective. TechCrunch expressed it as a profit of $8.3M per hour. Reddit user Cal00 noted that Apple made more from the iPhone alone that Google and Microsoft made from their entire product ranges–combined. Business Insider observed that the single-quarter iPhone sales were greater than Yahoo’s entire market capitalisation.
While revenue, profit and iPhone sales all exceeded even analyst expectations, the analysts were right about one key thing …