Apple Posts Record Profit and Earnings for FY14 Q1
The company posted record quarterly profit of $13.1B/€9.58B
Apple has announced the financial results for its fiscal 2014 first quarter which ended December 28, 2013, posting a record quarterly profit of $13.1 billion / €9.58 billion mostly made from iPhone and iPad sales.The company posted revenue of $57.6 billion / €42.1 billion and quarterly net profit of $13.1 billion / €9.58 billion, or $14.50 / €10.61 per diluted share, according to the press release.
Most of these figures were generated from iPhone and iPad sales combined. The company sold a whopping 51 million iPhones, which Apple calls “an all-time quarterly record.” Around the same time last year it sold 47.8 million units.
The Cupertino giant moved 26 million iPads and 4.8 million Macs during the three-month period.
CEO Tim Cook said, “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.”
“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,” Cook added.
CFO Peter Oppenheimer weighed in on the figures, saying, “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.”
As usual, Apple provided its guidance for the next quarter (FY14 Q2):
• revenue between $42 billion / €30.7 billion and $44 billion / €32.2 billion
• gross margin between 37 percent and 38 percent
• operating expenses between $4.3 billion / €3.14 billion and $4.4 billion / €3.22 billion
• other income/(expense) of $200 million / €146.37 million
• tax rate of 26.2 percent
Interested parties can listen to the conference call recording at www.apple.com/quicktime/qtv/earningsq114 using Apple’s QuickTime player (Download QuickTime for Mac / Download QuickTime for Windows).