Apple reports $13.1B in Q1 2014 profit on record sales of 51M iPhones, 26M iPads

Posted:
in AAPL Investors edited February 2014
Apple on Monday announced its earnings for the company's first fiscal quarter of 2014, netting $13.1 billion in profit on $57.6 billion in revenue, driven by sales of 51 million iPhones and 26 million iPads -- the most ever sold in a single quarter.

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Both the iPhone and iPad sales figures for the December quarter were new records for Apple, besting sales of 47.8 million iPhones and 22.9 million iPads in the year-ago quarter.

Shares of Apple fell nearly 6 percent after the results were first revealed Monday afternoon. Market expectations called for Apple to post $58 billion in revenues on sales of around 56.5 million iPhones and 24.5 million iPads.

Mac sales in the quarter were at 4.8 million, up from 4.1 million a year ago and better than investor projections of 4.6 million. However, Wall Street watchers place more emphasis on the company's iPhone and iPad lineups, which represent the lion's share of Apple's profits.

Apple posted its best quarter ever, but still came in slightly below Wall Street expectations, causing shares to dip in after-hours trading on Monday."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 Apple Chief Executive Tim Cook. "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."

Apple earned $14.50 per diluted share in the just-concluded quarter, up from $13.81 a year ago. Gross margins dipped year over year, from 38.6 percent in the year-ago period, to 37.9 percent this fiscal year.

Looking forward to its fiscal 2014 second quarter, Apple has guided revenue between $42 billion and $44 billion with gross margin between 37 percent and 38 percent. The company projects operating expenses between $4.3 billion and $4.4 billion, with other income of around $200 million.

"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," Apple Chief Financial Officer Peter Oppenheimer said.
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Comments

  • Reply 1 of 180
    macxpressmacxpress Posts: 5,801member

    Apple is doomed!!!! Sell your stock now! Tim Cook should be fired!

     

    /sarcasm

  • Reply 2 of 180
    herbapouherbapou Posts: 2,228member
    iPhone numbers is well below expectations. EPS and margins are not a blowout but are good.
    The stock could still rebound depending of what is said on the call.
  • Reply 3 of 180
     

    Market expectations called for Apple to post $58 billion in revenues on sales of around 56.5 million iPhones and 24.5 million iPads.


     

    Breaking: Apple fails to meet expectations, is doomed.

  • Reply 4 of 180
    quadra 610quadra 610 Posts: 6,757member

    That's a whole lotta iPhones. 

  • Reply 5 of 180
    Missed the mark. It's over. Apple is a sinking ship. Icahn's howls will increase in volume, and he will force Apple to return to its beige-box days.
  • Reply 6 of 180
    focherfocher Posts: 687member
    Obviously another total fail by Apple to not match and even exceed analysts' expectations. I have mind to liquidate my shares but cannot do so as I'm an actual long term investor and not a day trader.
  • Reply 7 of 180

    Wall Street... What can I say? They're a bunch of shmucks.

  • Reply 8 of 180
    Quote:

    Originally Posted by macinthe408 View Post



    Missed the mark. It's over. Apple is a sinking ship. Icahn's howls will increase in volume, and he will force Apple to return to its beige-box days.

     

    Biggest laugh of the day.

  • Reply 9 of 180
    quadra 610quadra 610 Posts: 6,757member

    http://forums.macrumors.com/showpost.php?p=18697809&postcount=24

     


    "This is the fourth-highest quarterly earnings by any company (any country).



    Of the six highest earnings ever, Apple now owns positions 4, 5, and 6. The top three are all oil companies."

     


  • Reply 10 of 180
    dimmokdimmok Posts: 359member

    Bravo Apple….

  • Reply 11 of 180
    Please remove shoes before dancing on Apple's grave. "It's like the 1980s all over again!" /s
  • Reply 12 of 180
    and it tanks
  • Reply 13 of 180

    The conference call starts at 2:00 PM PST. 

     

    Here's the link:  http://events.apple.com.edgesuite.net/14pijnaefvpijbnfdbvpijnbaefgvpjbnaef01/event/

  • Reply 14 of 180
    Apple smashes earnings records and iPhone sales by less than phony market expectations of just how much they should have smashed those records by. SELL SELL SELL!!!!

    *smh*

    I do not understand the logic of some investors.
  • Reply 15 of 180
    Originally Posted by Quadra 610 View Post


    This is the fourth-highest quarterly earnings by any company (any country). Of the six highest earnings ever, Apple now owns positions 4, 5, and 6. The top three are all oil companies.


     

    DOOMED.

  • Reply 16 of 180
    Quote:

    Originally Posted by alphafox View Post



    and it tanks

     

    Clearly, Apple needs to buy Exxon. /s

  • Reply 17 of 180
    Quote:

    Originally Posted by Tallest Skil View Post

     

     

    DOOMED.


     

    The Rainbow of Doom.

  • Reply 18 of 180
    noahjnoahj Posts: 4,503member
    Imagine if Dell posted these numbers, or Google, or Microsoft... Now see what happened to Apples stock versus if it had been any one of those companies. Total BS. :rolleyes:

    Good work Apple! Keep making money and don't worry about the stock price, worry about the products you release.
  • Reply 19 of 180
    Missed the mark. It's over. Apple is a sinking ship. Icahn's howls will increase in volume, and he will force Apple to return to its beige-box days.

    "Shut it all down and give the money back to the shareholders."
  • Reply 20 of 180
    magman1979magman1979 Posts: 1,292member
    Quote:

    Originally Posted by focher View Post



    Obviously another total fail by Apple to not match and even exceed analysts' expectations. I have mind to liquidate my shares but cannot do so as I'm an actual long term investor and not a day trader.

    I seriously hope you weren't serious with your comment...

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