Apple reports record iPhone and iPad sales with fiscal Q1 2014 results, an EPS of $14.50 on revenue of $57.6 billion

Apple has released the financial results for its first fiscal year of 2014 which ended on December 28, 2013. Not surprisingly, with a turnover up to 5.69%, and 10.69 % of its profits from the previous quarter, this quarter is of all records for the firm since its inception.

Revenues for the first quarter of 2014 are 57.6 billion dollars, Net profit meanwhile represents 13.1 billion, or $ 14.50 per share, thus beating the consensus estimate of $14.09 EPS on revenue of $57.46 billion. These results are not surprising, this quarter is traditionally the best for Apple thanks to Christmas sales, but this year the marketing of the iPhone 5s/5c in October, followed by Air iPad and iPad mini Retina made the milestone.

The international sales account for more than half of turnover, with 63 % of sales. For 2014 Apple is expected to launch a larger version of its iconic iPhone that will have a display of at least 4.5 inches as well as a larger version of its iPad that will be targeted toward the education market. The company’s gross margin on the quarter was 37.9%, which was largely in line with the consensus estimate of 37.5%.

Let's resume: In three months, Apple sold 51,025 million iPhone ( +6.72 % - 47.8 million last year in the same period), 26,035 million iPad ( +13.74 % - 22.9 million the last year in the same period) 4,837 million Mac ( +18.20 % - 4.1 million last year to the same period). iPod sales are in declines with 6,049,000 units sold (-52.26 %). Finally the iTunes Store reported 4.397 billion dollars.

For the quarter that just started, Apple expects revenue of $ 42 billion and a profit of $ 4.4 billion.

The company’s press release follows below.

Apple Reports First Quarter Results

iPhone and iPad Sales Drive Record Revenue and Operating Profit

CUPERTINO, Calif.–(BUSINESS WIRE)–

Apple today announced financial results for its fiscal 2014 first quarter ended December 28, 2013. The Company posted record quarterly revenue of $57.6 billion and quarterly net 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 $13.81 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.

The Company sold 51 million iPhones, an all-time quarterly record, compared to 47.8 million in the year-ago quarter. Apple also sold 26 million iPads during the quarter, also an all-time quarterly record, compared to 22.9 million in the year-ago quarter. The Company sold 4.8 million Macs, compared to 4.1 million in the year-ago quarter.

Apple’s Board of Directors has declared a cash dividend of $3.05 per share of the Company’s common stock. The dividend is payable on February 13, 2014, to shareholders of record as of the close of business on February 10, 2014.

“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 is providing 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 percent

Apple will provide live streaming of its Q1 2014 financial results conference call beginning at 2:00 p.m. PST on January 27, 2014 at www.apple.com/quicktime/qtv/earningsq114. This webcast will also be available for replay for approximately two weeks thereafter.

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SOURCE : @DSM_CORP

VIA: Akibatech , DSM-Tech