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Apple posts 5% rise in revenues to $37.4bn

Apple sold the largest amount of Macs in a single quarter and posted a year on year growth rate the rest of the personal computer industry hasn't enjoyed in four years.

Chief financial officer Luca Maestri said Apple had beaten the PC industry average in 32 of the last 33 quarters.

Apple sold 4.4 million Macs in the three months to June, 18 percent more compared to the same period the previous year, with revenue from its oldest line accounting for 15 percent of the company's total sales of $37.4 billion.

Apple reported $37.4 billion in revenue, 5 percent more than the same quarter in 2013 and a record for the company in the April-June period. CEO Tim Cook called out the Mac and iPhone, as well as the iTunes ecosystem, as the drivers for the quarter.

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