Technology giant Apple’s June 2014 quarter results signals how the company’s revenues are larger than individual annual gross domestic product (GDP) numbers of nearly 40 African countries.
New York Stock Exchange (NYSE) listed Apple on Tuesday reported a 6% rise in its global revenue for the June quarter as it sold 35.2 million iPhones and 13.3 million iPads during the period.
In total, Apple -- which is one of the world’s most valuable companies by market capitalisation and brand value -- reported sales of $37.4 billion for the period.
And this means Apple’s revenues for the quarter could be viewed as being bigger than the annual GDP of at least 38 African nations.
According to 2013 data from the International Monetary Fund only 12 African countries had GDP higher than $37 billion last year: Nigeria ($509bn), South Africa ($350bn), Egypt ($271bn), Algeria ($206bn), Angola ($121bn), Morocco ($105bn), Sudan ($70bn), Libya ($67bn), Ethiopia ($48bn), Tunisia ($47bn), Kenya ($45bn) and Ghana ($44bn).
Other African nations such as Tanzania, the Democratic Republic of the Congo (DRC), Cameroon, Ivory Coast and Zambia all had 2013 GDPs smaller than Apple’s June quarter revenues of $37.4 billion.
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year.
Despite Apple’s global might, its 6% rise in quarterly revenue was still smaller-than-expected, according to Reuters.
However, the company has reported a 28% rise in revenues in greater China and it also reported that its global net income for the period increased 12.2% to $7.75 billion, or $1.28 per share.
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