Apple reported its first quarter 2014 financial results today, selling 51 million iPhones and 26 million iPads, both all-time quarterly records. The company reported a record $57.6 billion quarterly revenue, as well as quarterly net profit of $13.1 billion, or $14.50 per diluted share. Apple sold 6 million iPods, a 52 percent decrease in units from Q1 2013. iPhone unit sales were up 7 percent, and iPad unit sales were up 14 percent from Q1 2013.
Gross margin was 37.9 percent, compared to 38.6 percent in Q1 2013. Apple noted that international sales accounted for 63 percent of revenue in Q1 2014. For Q2 2014, Apple is providing guidance of revenue between $42 billion and $44 billion, and gross margin between 37 percent and 38 percent. Apple’s earnings call will begin at 5 p.m. EST, and can be heard live on the company’s investor website.
“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,” Apple CEO Tim Cook said. “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,” Apple CFO Peter Oppenheimer said.