Apple Earnings Beat Estimates; 48 Mln. IPhones Sold In Q4

(RTTNews) - Calling fiscal 2015 its most successful year yet, Apple (AAPL) revealed a quarterly profit that rose sharply from last year and beat the expectation of market analysts. The company benefited from 22 percent revenue growth and improved margins.

The iconic computer and electronic device maker said iPhone sales topped 48 million units in the fourth quarter, a figure that is 22 percent higher than last year. This offset a drop in iPad sales, with 20 percent fewer units sold in 2015 compared to the same period of 2014.

The company reported a fourth-quarter profit of $11.1 billion, or $1.96 per share. This was up from $8.5 billion, or $1.42 per share in the same period last year. Apple's fourth quarter ended in September.

Analysts had expected the company to earn $1.88 per share, according to figures compiled by Thomson Reuters.

Apple said its revenue climbed to $51.5 billion, compared to a figure of $42.1 billion in last year's fourth quarter. Revenue was projected to rise to $51.1 billion.

Apple saw its revenue from China nearly double from last year, though the top line in that country was off slightly from the previous quarter. In 2015, China surpassed Europe to become Apple's second-biggest market, behind the United States.

U.S. sales improved 10 percent compared to last year.

Looking ahead, the company projected revenue for the first quarter of between $75.5 billion and $77.5 billion. It's gross margin is projected to be between 39 percent and 40 percent.