Apple Q1 2014 Numbers: $158.8 Billion in Cash, 65 Billion Apps Downloaded, and 420 Total Retail Stores
Last quarter, Apple's customers spent $4.7 billion on iTunes, with $2 billion being paid to developers. The company has paid a total of $15 billion to developers, with half of that coming in 2013. Customers have downloaded a total of 65 billion apps total -- an increase of 15 billion from May 2013.
Apple reported $7 billion in revenue generated from its Apple Retail segment, up 9 percent from a year ago. The stores reported record iPhone and iPad sales, with very strong Mac sales. The company remodeled six stores while opening four new ones. At the end of the quarter, Apple had 420 total stores with 166 of those outside the U.S. The company reported 21,000 visitors per store per week and an average revenue per store of $16.7 million.
Apple ended the quarter with $158.8 billion in cash, up $12 billion from the prior quarter. However, of that total, only $34.4 billion was held in the United States, down $1.1 billion. 78 percent of its cash, $124.4 billion, was offshore and Apple can't use it to make dividend or share repurchase payments without paying a significant amount of U.S. corporate tax.
Overall, Apple shared via its financial results report that it 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.