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Apple profits up by 33%; to return more cash to investors

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By NewsGram Staff Writer

Beating analysts’ expectation, Apple has touched remarkable quarterly earnings and revenue.

The firm reported that it sold 61.1 million iPhones in the first three months of 2015. The sale drove company’s profit up by 33% from the previous year.

A profit of whopping $13.6 billion was reported by Apple, while the revenue rose 27% to $58 billion.

In a statement, the technology giant said that iPhone sales in greater China outpaced those in the US for the first time, helped by the Chinese New Year celebration.

Rising demand for the iPhone 6 and 6 Plus foresees an unexpected rise in its annual profit since 2012.

The decision to make a much bigger device with the iPhone 6 – an idea which Steve Jobs had rejected – has paid off in spades, quoted British broadcaster BBC.

However, sales of Apple’s iPad still remain sluggish. With a sale of 12.6 million iPads, Apple saw a sharp fall of 23% from the previous year.

Apple Inc.’s chief executive, Tim Cook, said, “We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever.”

It was also announced by the firm on Monday that it would broaden its capital return program to $200 billion from a previously announced $130 billion. This estimated figure comes from Apple expanding its share repurchase authorization to $140 billion from the $90 billion announced in 2014, and boosting its dividend 11% to 52 cents per share.

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Governments Across The World Request Apple for 30,000 Device Information

The governments and private parties around the world also requested information on 3,358 Apple accounts and data was provided in 82 per cent of cases.

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Private party request circumstances generally relate to instances where private litigants are involved in either civil or criminal proceedings.

The governments around the world sent requests for device information on 29,718 Apple devices, with India asking for 27 device requests in the July-December 2017 period, the iPhone maker has revealed.

Overall, the data was provided in 79 per cent of cases, Apple said in its bi-annual transparency report made available on Friday.

In case of India, the data was provided in 14 out of 27 requests (52 per cent).

The governments and private parties around the world also requested information on 3,358 Apple accounts and data was provided in 82 per cent of cases.

“Examples of such requests are where law enforcement agencies are working on behalf of customers who have requested assistance locating lost or stolen devices.

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In case of India, the data was provided in 14 out of 27 requests (52 per cent). Pixabay

“Additionally, Apple regularly receives multi-device requests related to fraud investigations. Device-based requests generally seek details of customers associated with devices or device connections to Apple services,” the Cupertino-based company said.

Private party request circumstances generally relate to instances where private litigants are involved in either civil or criminal proceedings.

The tech giant said that starting with the period July 1-December 31, 2018, it will “report on government requests to take down Apps from the App Store in instances related to alleged violations of legal and/or policy provisions”.

Read More: Home Router Devices Were Compromised By Foreign Hackers Says FBI 

Apple requires government and private entities to follow applicable laws and statutes when requesting customer information and data.

“We contractually require our service providers to abide by the same standard for any government information requests for Apple data. Our legal team reviews requests received to ensure that the requests have a valid legal basis,a the company said.

“When we receive an account request seeking our customers’ personal information, we notify the customer that we have received a request concerning their personal data except where we are explicitly prohibited by the legal process, by a court order Apple receives, or by applicable law,” it added. (IANS)

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