Apple Posts Q1 2014 Earnings

Apple has today released earnings for Q1, 2014. This fiscal quarter ended December 28, 2013 and included the holiday shopping season. During the quarter, Apple brought in revenues of $57.6 billion with a profit of $13.1 billion, or $14.50 per diluted share. This is compared to Q1 2013 that saw revenues of $54.5 billion with a net profit of $13.1 billion, or $13.81 per diluted share. Gross margin this past quarter was 37.9% versus 38.6% gross margin a year ago.

During the quarter, Apple sold 51 million iPhones, a new quarterly record. Apple also sold a record number of iPads with 26 million being sold during the quarter. Mac sales even rose, with 4.8 million being sold compared to 4.1 million Macs being sold a year ago.

Peter Oppenheimer, Apple’s CFO, said the following on cash flow during Q1 2014:

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 has also noted that its shareholders will receive a cash dividend of $3.05 per share payable February 13, 2014. Other interesting statistics include the fact that 63% of Apple’s revenue came from international sales and currently holds 69% of the Japanese smartphone market. As far as the Chinese market goes, Apple has brought in $8.44 billion in revenue in the country over Q1 2014, a growth of 29% year-over-year.

Photo Source: Karlis Dambrans

Andrew is a geek, Apple enthusiast, blogger and coffee lover from Chicago.