Continued from page 1

“IPhone is selling well because consumers want it, not because carriers are pushing it,” he said.

IPhone sales accounted for 58 percent of Apple’s revenue, more than ever. Three years ago, the figure was 27 percent.

Keeping with the trend over the last year, Asia, and in particular China, accounted for much of the revenue growth. Sales in “Greater China,” which includes Hong Kong and Taiwan, were triple those of a year ago, and accounted for 20 percent of Apple’s revenue.

For the third fiscal quarter, ending in June, Apple is expecting earnings of $8.68 per share and revenue of $34 billion. Both figures are well below analyst expectations, but that’s usually the case with Apple’s forecasts. The company is famous for low-balling its forecasts.

During the quarter, Apple announced that it would start paying a dividend this summer. It has ample cash to pay for one: the company’s hoard grew to $110 billion during the quarter. However, the company doesn’t look at the whole pile when it decides how much it can pay out in dividends. Instead, it only looks at the $63 billion it has in U.S. accounts. Like other U.S. multinationals, it doesn’t want to bring back overseas earnings and have them taxed again at the U.S. corporate tax rate of 35 percent.

Apple’s market capitalization is $559 billion, including the rally in extended trading. The world’s second most valuable company, Exxon Mobil Corp., is worth $407 billion.