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Apple Q4 2014 earnings: revenue surges on huge iPhone 6 sales

Apple, once the darling of Wall Street with a ballooning stock price, has disappointed investors in recent quarters with slowdown on its growth. But this quarter, it surprised with a blowout, posting earnings of $8.5 billion on revenue of $42.1 billion, thanks in no small part to its latest iPhones, which broke early sales records.

The numbers came in far above Apple’s own guidance for the quarter. The company was expecting between $37 to $40 billion in revenue with a gross margin of 37 to 38 percent. Wall Street analysts, on average, were expecting Apple to report earnings on the higher end of that spectrum, at earnings of $1.31 per share on revenue of $39.85 billion, up about 11 percent and 6.3 percent from the same quarter last year,…

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