Apple garners $33 billion in cash in Q1 2015

April 28, 2015: The California based tech giant Apple sold over 61.6 million iPhones in the first three months of 2015, shooting the profit up by approximately 33% from last year.

                            

The company reported a record $13.6 billion in profit, with revenue up by 27% to $58bn. And cash in first quarter hits record $33 billion with total cash and investments amounting to $194 billion. This will make Apple the only non-financial company in the S&P 500 to attain this figure. The gadget maker now holds more cash than Google and Microsoft combined.

The company's CEO Tim cook says: "We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever."

Apple is also decided to ramp up its share-buying programme, returning to $200bn to investors, up from $130bn, reports BBC.

Source: AmericasMarkets.UsaToday.com, Image by MacObserver.com

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