Apple Just Had The Most Profitable Quarter In History

Tim cook
Apple CEO Tim Cook introduces Apple Watch , which he is wearing on his wrist, on Tuesday, Sept. 9, 2014, in Cupertino, Calif. (AP Photo/Marcio Jose Sanchez) Marcio Jose Sanchez/AP

Apple just completely crushed its Q1 earnings, delivering its most profitable quarter ever — and the most profitable quarter for any company during any quarter in history.

Apple’s net income for the quarter was $US18 billion, up 37% year-over-year.

That’s the most a company has ever earned in one quarter, according to this Wikipedia entry. To gain the top spot, Apple beat out Russian oil company Gazprom, which earned $US16.24 million in Q1 2011.

The main driver of Apple’s landmark quarter? Sky-high iPhone sales.

The company sold 74.4 million iPhones, which is up 46% compared to the previous year, and its biggest quarter by 23.4 million units.