Apple reports $11.1 billion quarterly profit

Apple announced its fiscal fourth quarter results and the company reported quarterly revenue of $51.5 billion and quarterly net profit of $11.1 billion.

The growth was fueled by record fourth quarter sales of iPhone, the expanded availability of Apple Watch, and all-time records for Mac sales and revenue from services.

“Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28% to nearly $234 billion. 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,” said Tim Cook, Apple’s CEO. “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.”

Apple sold 48 million iPhones, up from the 39 million sold in the same quarter last year. The company also sold 5.7 million Macs, up from 5.5 million sold in the same quarter last year. iPad sales dropped from 12.3 million last year to 9.8 million in the most current quarter.