Five questions answered on Apple’s profit surge

It made $6.9bn.

iPhone maker Apple has reported higher profits in the third-quarter than was expected. We answer five questions on Apple’s latest sales surge.

 How much profit did Apple make in the last quarter?

It made $6.9bn (£4.5bn) in the three months to June. This pushed its shares up by 5 per cent in after-hours trading yesterday.

What’s responsible for this better-than-expected profit rise?

It’s iPhone smartphone. Apple sold 31.2m of the mobile device, a record for the June quarter, compared to 26m last year.

How do these latest figures compare to last year overall?

Compared to the same period last year, profit is actually down by 22 per cent. Its profit margins actually shrank to 36.98 per cent from 42.8 per cent.

However, this quarter its sales prices were actually lower at $581, compared with $608 a year ago.

The company’s revenue, which was also better than expected, rose only slightly above the same quarter last year to $35.3bn compared to $35bn a year ago.

What have the analysts said about Apple’s latest figures?

Shannon Cross of Cross Research, speaking to the BBC said:

"The iPhone number should provide some comfort to investors who were worried about smartphone demand.

"That's one of the reasons the stock is up. Expectations were not strong for this quarter."

While Adam Sarhan, chief executive of Sarhan Capital, told the BBC:

"This was a 'blah' quarter and the story hasn't changed.

"Until it delivers a new, innovative product that really adds to both top and bottom-line, I would expect the stock to continue treading water."

So, what is next for Apple?

It’s hard to say, except Apple's boss, Tim Cook, did tell the BBC the company – who’s last innovation was the iPad in 2010 – is planning on introducing some new products soon.

"We are later-focused and working hard on some amazing new products that we will introduce in the fall [autumn] and across 2014," he said.

Photograph: Getty Images

Heidi Vella is a features writer for Nridigital.com

David Lammy. Photo: Getty
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David Lammy calls for parliament to overturn the EU referendum result

The Labour MP for Tottenham said Britain could "stop this madness through a vote in Parliament".

David Lammy, the Labour MP for Tottenham, has called on parliament to stop Brexit.

In a statement published on Twitter, he wrote: "Wake up. We do not have to do this. We can stop this madness and bring this nightmare to an end through a vote in Parliament. Our sovereign Parliament needs to now vote on whether we should exit the EU. 

"The referendum was an advisory, non-binding referendum. The Leave campaign's platform has already unravelled and some people wish they hadn't voted to Leave. Parliament now needs to decide whether we should go forward with Brexit, and there should be a vote in Parliament next week. Let us not destroy our economy on the basis of lies and the hubris of Boris Johnson."

Lammy's words follow a petition to re-run the referendum, which has gathered 1.75 million signatures since Friday.

However, the margin of victory in the referendum - more than a million votes - makes it unlikely party leaders would countenance any attempt to derail the Brexit process. On Saturday morning, Labour leader Jeremy Corbyn said there should be no second referendum. Tory leader David Cameron has also accepted the result, and triggered a leadership election.

It is true, though, that had Britain's EU membership been decided in parliament, rather than by a referendum, there would have been an overwhelming vote to Remain. Just 138 Tory MPs declared for Leave, compared with 185 for Remain. In Labour, just 10 declared for Leave, versus 218 for Remain, while no Lib Dem, Scottish Nationalist, Plaid Cymru, Sinn Fein or SDLP MPs backed Leave.

Rob Ford, an academic who has studied Ukip voters, said Lammy's call was "utter madness":