Apple Posts Q114 Revenue of $57.6bn, Profit $13.1bn
- January 27th, 2014
- Apple Financials
- Alex Brooks
Apple today announced financial results for its first fiscal quarter of 2014 which ran from October 1, 2013 until December 31. Apple posted revenue of $57.6 billion and net quarterly profit of $13.1 billion, or $14.50 per diluted share. These results compare to revenue of $54.5 billion and net profit of $13.1 billion, or $13.87 per diluted share, in the year-ago quarter.
Gross margin was 37.9 percent compared to 38.6 percent in the year-ago quarter. International sales accounted for 63 percent of the quarter’s revenue.
Apple reported the following number of shipments for its products during the quarter:
- 51 million iPhones compared to 47.8 million in the year-ago-quarter
- 26 million iPads compared to 22.9 million in the year-ago-quarter
- 4.8 million Macs compared to 4.1 million in the year-ago quarter
- 6 million iPods compared to 12.6 million in the year-ago quarter.
“We are really happy with our record iPhone and iPad sales, the strong performance of our Mac products and the continued growth of iTunes, Software and Services,” said Tim Cook, Apple’s CEO. “We love having the most satisfied, loyal and engaged customers, and are continuing to invest heavily in our future to make their experiences with our products and services even better.”
“We generated $22.7 billion in cash flow from operations and returned an additional $7.7 billion in cash to shareholders through dividends and share repurchases during the December quarter, bringing cumulative payments under our capital return program to over $43 billion,” said Peter Oppenheimer, Apple’s CFO.
Apple provided the following guidance for its fiscal 2014 second quarter:
- revenue between $42 billion and $44 billion
- gross margin between 37 percent and 38 percent
- operating expenses between $4.3 billion and $4.4 billion
- other income/(expense) of $200 million
- tax rate of 26.2%