Apple Announces Q214 Profit of $10.2 Billion, Revenue of $45.6 Billion
- April 23rd, 2014
- Apple Financials
- Alex Brooks
Apple today announced financial results for its second fiscal quarter of 2014 which ran from January 1, 2014 until March 29. Apple posted revenue of $45.6 billion and net quarterly profit of $10.2 billion, or $11.62 per diluted share. These results compare to revenue of $43.6 billion and net profit of $9.54 billion, or $10.09 per diluted share, in the year-ago quarter.
Gross margin was 39.3 percent compared to 37.5 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.
Apple reported the following number of shipments for its products during the quarter:
- 43.7 million iPhones compared to 37.4 million in the year-ago-quarter
- 16.35 million iPads compared to 19.5 million in the year-ago-quarter
- 4.1 million Macs compared to 3.95 million in the year-ago quarter
- 2.76 million iPods compared to 5.63 million in the year-ago quarter.
“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO. “We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”
“We generated $13.5 billion in cash flow from operations and returned almost $21 billion in cash to shareholders through dividends and share repurchases during the March quarter,” said Peter Oppenheimer, Apple’s CFO. “That brings cumulative payments under our capital return program to $66 billion.”
Apple provided the following guidance for its fiscal 2014 third quarter:
- revenue between $36 billion and $38 billion
- gross margin between 37 percent and 38 percent
- operating expenses between $4.4 billion and $4.5 billion
- other income/(expense) of $200 million
- tax rate of 26.1%