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| January 27, 2014
Apple Records A Huge Quarter With Monster iPhone And iPad Sales
Another quarter equals even more records for Apple. In the just announced earnings results for its fiscal 2014 first quarter, the company netted revenue of $57.6 billion and a profit of $13.1 billion. And to no one’s surprise, the quarter was led by sales of the iPhone. During the time period, which ended Dec. 28. 2013, Apple sold 51 million handsets - an all-time quarterly record. That’s compared to 47.8 million iPhones in the same quarter last year. Apple also posted an all-time quarterly record for iPad sales with 26 million sold. That number is up from the 22.9 million sold during the holiday quarter of 2012. Surprisingly, Mac sales also increased to 4.8 million units, compared with 4.1 million during the year-ago quarter. “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.” “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,” said Peter Oppenheimer, Apple’s CFO. Apple will host a conference call at 5 p.m. ET to discuss the results. We will update you with any interesting information. You can even listen into the call by clicking here.