Apple earns record $51.5B revenue on sales of 48M iPhones, 5.7M Macs

Apple reported yet another record smashing quarter on Tuesday, earning $51.5 billion in revenue and $11.1 billion in net profit on blockbuster sales of 48 million iPhones.

Overall revenue was up 22 percent year over year, compared to $42.1 billion in revenue and $8.5 billion net profit during the same period a year ago. Apple was also propelled by record sales of 5.7 million Macs, up 3 percent year over year.

The iPhone set a fourth-quarter sales record, while the Mac posted an all-time record for sales in Apple's Sept. 2015 quarter.

"Fiscal 2015 was Apple's most successful year ever, with revenue growing 28 percent to nearly $234 billion," said Apple Chief Executive Tim Cook. "This continued success is the result of our commitment to making the best, most innovative products on earth, and it's a testament to the tremendous execution by our teams."

"We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week."

Gross margin was at 39.9 percent for the quarter, up from 38 percent a year ago. Apple's earnings were $1.96 per diluted share, an increase from $1.42 EPS in the September 2014 quarter.

iPhone units posted a 22 percent year over year increase, while revenue from the hot selling handset was up 36 percent.

International sales accounted for 62 percent of the quarter's revenue, and sales in China were up 99 percent year over year.

iPad sales continued their decline in the quarter, however, falling 20 percent year over year to 9.8 million tablets.

"Apple's record September quarter results drove earnings per share growth of 38% and operating cash flow of $13.5 billion," said Apple Chief Financial Officer Luca Maestri. "We returned $17 billion to our investors during the quarter through share repurchases and dividends, and we have now completed over $143 billion of our $200 billion capital return program."

Looking forward to the December quarter, Apple's first of fiscal 2016, the company is projecting revenue between $75.5 billion and $77.5 billion, with gross margins between 39 and 40 percent. Operating expenses are expected to be between $6.3 billion and $6.4 billion, with other income of $400 million, and a tax rate of 26.2 percent.