Apple reports record quarterly profit of $18 billion, sells 74.5 million iPhones

Apple on Tuesday recorded a record first quarter profit of $18 billion on $74.6 billion in revenue. These results compare to revenue of $57.6 billion and net profit of $13.1 billion in the year-ago quarter.

Apple said iPhone unit sales of 74.5 million also set a new record. Apple also sold 5.5 million Macs and 21.4 million iPads in the quarter.

International sales accounted for 65 percent of the quarter’s revenue, according to Apple.

“We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high,” said Tim Cook, Apple’s CEO. “Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal.”

Looking forward to the second fiscal quarter, Apple said it expects revenue between $52 billion and $55 billion.