Apple Announces Q314 Profit of $7.7 Billion on Revenue of $37.4 Billion
- July 22nd, 2014
- Apple Financials
- Alex Brooks
Apple today announced financial results for its third fiscal quarter of 2014 which ran from March 30, 2014 until June 30. Apple posted revenue of $37.4 billion and net quarterly profit of $7.7 billion, or $1.28 per diluted share (adjusted for stock split). These results compare to revenue of $35.3 billion and net profit of $6.9 billion, or $1.07 per diluted share, in the year-ago quarter.
Gross margin was 39.4 percent compared to 36.9 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter’s revenue.
Apple reported the following number of shipments for its products during the quarter:
- 35.2 million iPhones compared to 31.2 million in the year-ago-quarter
- 13.2 million iPads compared to 14.6 million in the year-ago-quarter
- 4.4 million Macs compared to 3.8 million in the year-ago quarter
- 2.9 million iPods compared to 4.5 million in the year-ago quarter.
“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” said Tim Cook, Apple’s CEO. “We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce.”
“We generated $10.3 billion in cash flow from operations and returned over $8 billion in cash to shareholders through dividends and share repurchases during the June quarter,” said Luca Maestri, Apple’s CFO. “We have now taken action on over $74 billion of our $130 billion capital return program with six quarters remaining to its completion.”
Apple provided the following guidance for its fiscal 2014 third quarter:
- revenue between $37 billion and $40 billion
- gross margin between 37 percent and 38 percent
- operating expenses between $4.75 billion and $4.85 billion
- other income/(expense) of $250 million
- tax rate of 26.1%