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Apple Reports Strongest Ever Quarterly Earnings: $13.1 Billion Profit on $57.6 Billion in Revenue in Q1 2014

ApplelogoApple today announced financial results for the fourth calendar quarter of 2013 and first fiscal quarter of 2014.

For the quarter, Apple posted revenue of $57.6 billion and net quarterly profit of $13.1 billion, or $14.50 per diluted share, compared to revenue of $54.5 billion and net quarterly profit of $13.1 billion, or $13.87 per diluted share in the year-ago quarter.

Gross margin was 37.9 percent compared to 38.6 percent in the year-ago quarter, with international sales accounting for 63 percent of revenue. Apple also declared a dividend payment of $3.05 per share, payable on February 13 to shareholders as of the close of trading on February 10. The company currently holds $158.8 billion in cash and marketable securities.

Apple had previously issued guidance for the quarter of revenues between $55-58 billion, with gross margin between 36.5 and 37.5 percent.

Q1 2014 Line Chart CorrectedApple sold a record 51 million iPhones in the quarter, up from 47.8 million in the same time period last year, and the company has now sold 472.3 million smartphones in total. It sold 26 million iPads, a new record, up from 22.86 million last year. Apple has now sold 195 million tablets. It sold 4.8 million Macs during the quarter, compared to 4.06 million in the year-ago period.
“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.”
Apple's guidance for the second quarter of fiscal 2014 includes expected revenue of $42-44 billion and gross margin between 37 and 38 percent. This guidance reflects an expectation for near zero growth from Q2 of fiscal 2013.

Q12014 Pie Chart CorrectedApple will provide live streaming of its Q1 2014 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Conference Call and Q&A Highlights are available in reverse chronological order after the jump.

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Top Rated Comments

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12 weeks ago
Only on Wall Street is it a disappointment when Apple sells an all-time record number of iPhones (51 million) in a quarter. :rolleyes:
Rating: 26 Positives
12 weeks ago
This is the fourth-highest quarterly earnings (profit) 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. Of the top 20, Apple is the only non-oil company.

1. Gazprom (Russian oil), $16.24B USD, August 2011
2. Royal Dutch Shell (Netherlands/UK oil), $15.68B USD, June 2008
3. Exxon (US oil), $14.8B USD, September 2008
4. Apple, $13.1B USD, January 2014
5. Apple, $13.08B USD, January 2013
6. Apple, $13.06B USD, January 2012

http://en.wikipedia.org/wiki/List_of_largest_corporate_profits_and_losses#Largest_Corporate_Quarterly_Earnings_of_All_Time
Rating: 22 Positives
12 weeks ago

And their stock is down $24.


It's the iPhone number. Analysts got ahead of themselves again, and so 51 million is a "disappointment."
Rating: 16 Positives
12 weeks ago
Now can every single "Analyst" who was wrong be fired?
Rating: 15 Positives
12 weeks ago

It may get worse.


So now that your posts got deleted over at Ars Technica (http://arstechnica.com/apple/2014/01/liveblog-apples-q1-2014-earnings-call-happens-on-january-27-at-2pm-pst/?comments=1), you've come here to troll?
Rating: 12 Positives
12 weeks ago
I knew the first comment was going to reference being doomed
Rating: 10 Positives
12 weeks ago

Would you want to be called Apple shill? Why the need for calling the names? Since you never use Note 3 you simply can't know how good it is (carrying it in a brief case does not count).


If you're such a Note user what on earth are you doing hanging around an apple site?

It's not a bad device. UI is much better than earlier versions, I go back to Android 1.6. But as I said, its too f-in' big.

The point is not if I'm a regular user. The point is that I *could be* at will. I have tested it quite a bit. Certainly more than the OP who isn't going to get much of chance at a store. When one has a $700 device gathering dust as they use their other $700 device daily, that speaks volumes regarding it's utility IMHO.

The buyer can go judge that for themselves the size without signing a contract. He can take whichever of our free advice he chooses. No skin off me.

Go look at your initial reply to decide who threw the first barbs.

PS I'd be happy to be an Apple shil. Tim, if you're hiring, call me!! I can beam up to the new spaceship.
Rating: 10 Positives
12 weeks ago
Interesting but meaningless stat of the day:

Apple's net profit of $13b over the last 3 months was more than the company made from its founding in 1977 til the iPhone launched in 2007.
Rating: 9 Positives
12 weeks ago
For folks who don't understand why the stock might go down afterhours, you have to understand that it takes tremendous results to support Apple's current $487 billion market cap. Wall Street does not believe that Apple is a growth company unless it comes out with a new product line. The new product line is highly speculative. So when Apple doesn't show huge growth in its iPhone and iPad sales, Wall Street gets nervous that Apple won't remain a near half trillion dollar company.

Me, as a shareholder, I like the results. I like that another nice dividend is coming and I like that greater stock buybacks may be coming as well. Also I'm a believer that growth in China sales will be significant. I think Android has seen its best days. Samsung won't advertise as much this year (as compared to last year) and the other high end manufacturers don't have any idea how to make money in this space (and in fact there might not be a way for them). So there is a smartphone shakeout coming.
Rating: 9 Positives
12 weeks ago
You know something is wrong with the system when selling 51m iPhones is a 'disappointment'. I mean SERIOUSLY! :rolleyes:
Rating: 9 Positives

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