Apple to return more cash toinvestors as profits soar

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Technology giant Apple sold 61.1 million iPhones in the first three months of 2015, driving profit up 33% from a year earlier.The firmreported a $13.6bn (£8.9bn) profit, with revenue up 27% to $58bn.Sales in greater China leapt 71% to$16.8bn, outpacing those in the US for thefirst time, and helping to drive the sharp profit rise.Apple also said it would ramp up its share-buying programme, returning$200bn to investors, up from $130bn.The tech giant said it currently had a record $195bn in cash on its books.However, sales of its iPad tablet remained sluggish. Apple said it sold 12.6 million iPads, down 23% from a year earlier.”We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever,”said chief executive Tim Cook.Shares in the company rose over 1% after markets closed.

Posted By Durojaiye Mr Blogger


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