Apple Made A Lot Of Money Last Quarter

Holy Shit Apple Made a Lot of Money

Apple is reporting a record quarterly revenue of $US75.9 billion ($108 billion), surpassing the the $US74.6 billion ($106 billion) it reported last year.

Despite the record-setting revenue, Apple executives aren't celebrating. That's because Apple also reported iPhone revenue will decline at its steepest rate in 15 years. The loss marks an end to more than a decade of accelerated growth and a cultural phenomenon created by the tech giant.

Apple says that it expects to see revenue of $US50 billion ($71 billion) to $US53 billion ($76 billion), which is significantly below the $US55.47 ($79) billion that analysts were predicting. If those numbers are true, it would be the worst year-over-year quarterly decline at Apple since 2001.

So, although Apple is still the most valuable company in the world (for now), it's safe to say that iPhone sales might not look so good in the future.

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