Monday, January 27th 2014

Apple Reports First Quarter FY2014 Revenue of $57.6 Billion

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
Add your own comment

12 Comments on Apple Reports First Quarter FY2014 Revenue of $57.6 Billion

#1
FordGT90Concept
"I go fast!1!11!1!"
It should be noted that Apple shares fell 8% already in aftermarket trading. Mac sales are up 17% though (likely because Windows 8 continues to disappoint).
Posted on Reply
#2
Ravenas
by: FordGT90Concept
It should be noted that Apple shares fell 8% already in aftermarket trading. Mac sales are up 17% though (likely because Windows 8 continues to disappoint).
Apple currently has ~ $150 billion in cash money. Has quarterly revenue up year to year this quarter. iPhone activations are up year to year and set record sales all time. Extremely strong iPad sales (really isn't a significant competitor out there, YET) and set record sales all time. New deal with China's top mobile carrier. All while making ~ 13 billion in profit. Wow. Apple is going nowhere anytime soon.
Posted on Reply
#4
tacosRcool
I read on IGN that iPod sales are down to 6 million vs 12.7 from this time last year.
Posted on Reply
#5
Ravenas
by: tacosRcool
I read on IGN that iPod sales are down to 6 million vs 12.7 from this time last year.
Why does anyone need an iPod anymore?
Posted on Reply
#6
WhiteLotus
Good for them. Small incremental updates to their products and then selling them for more than the previous product seems to be a winning strategy.
Posted on Reply
#7
W1zzard
by: Steevo
virtually slave labor
poor siri
Posted on Reply
#9
FordGT90Concept
"I go fast!1!11!1!"
by: Ravenas
Apple currently has ~ $150 billion in cash money. Has quarterly revenue up year to year this quarter. iPhone activations are up year to year and set record sales all time. Extremely strong iPad sales (really isn't a significant competitor out there, YET) and set record sales all time. New deal with China's top mobile carrier. All while making ~ 13 billion in profit. Wow. Apple is going nowhere anytime soon.
Yes, Apple made more money YOY but the reason why their stocks slid is because most of those numbers were less than predicted. Apple isn't growing like it used to and that has Wall Street upset.
Posted on Reply
#10
Ravenas
by: FordGT90Concept
Yes, Apple made more money YOY but the reason why their stocks slid is because most of those numbers were less than predicted. Apple isn't growing like it used to and that has Wall Street upset.
Look at it as a buying opportunity.
Posted on Reply
#11
Steevo
by: timta2
Where are your electronics made? Probably in the same, if not similar circumstances.
First, while it is jobs for people, is our goal to set the bar lower? Perhaps if we did we would all be working in sweat shops and be happy eating only noodles. But that would eliminate the market for said goods......so we can't do that. We can however look at the profits and pay spread and decide for ourselves if we support the practice. Apple designs good hardware and makes good software, I don't agree with their business practices however. I have had and used Apple products given to me by the companies I work for. My real issue is the company lies about and covers up the truth to prevent people from seeing what the effects of a consumer/material society has on the people making it, they do it while proclaiming innocence and putting on a false identity of ecological and moral responsibility. They failto be held accountable for their actions, and I feel the same about them as I do the other large companies in the world who attempt the same. I am fine with where its manufactured, but not the conditions that drive workers to attempt a mass suicide.

My personal phone is a Samsung, work phone is a Motorola, Lenovo laptop, and my older PC.

http://en.wikipedia.org/wiki/Asus

They do their own manufacturing.

by: W1zzard
poor siri
Calling Siri bad names or telling her to go perform sexual acts upon her person causes funny results.
Posted on Reply
#12
xenocide
by: Steevo
I am fine with where its manufactured, but not the conditions that drive workers to attempt a mass suicide.

My personal phone is a Samsung, work phone is a Motorola, Lenovo laptop, and my older PC.

http://en.wikipedia.org/wiki/Asus

They do their own manufacturing.
Uh, up until 2010 ASUS had everything they sold manufactured by Pegatron, and once Apple switched to Pegatron ASUS went with the people Apple used to use Foxconn. Pegatron also lists Google as one of its largest clients, Google owns Motorola these days, so it's hard to imagine that phone isn't made by them. And Samsung doesn't need to drive their workers to suicide, they can just ignore safety regulations and wait for them to get covered in Hydroflouric Acid every couple months. Oh, also, the rate of suicide in these factories is generally lower than in surrounding towns.

The fact is everyone is using these companies, but Apple being the largest means anyone who provides them anything will be watched like a hawk. When was the last time you heard about Foxconn? All of a sudden they aren't making Apple products and nobody gives a shit about them...
Posted on Reply
Add your own comment