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Strong iPhone and Mac sales power Apple’s fourth quarter FY 2014 earnings

Strong iPhone and Mac sales power Apple’s fourth quarter FY 2014 earnings

October 20, 2014

It’s another record quarter for Apple. In the recently concluded  fourth quarter of FY 2014, Apple netted $8.5 billion in profit from revenue of $42.12 billion.

And once again, the quarter was driven by strong iPhone sales. For the three-month period ending Sept. 27, Apple sold 39.27 million iPhones – a record all-time number for the quarter.

For comparison, 37.79 million iPhones were sold during the same period of FY 2013.

The iPhone 6 and iPhone 6 Plus were only on sale for a week before the quarter ended.

Mac sales also were up as Apple sold a record 5.5 million units during the period.

But iPad sales continue to drop. During the quarter, 12.3 million tablets were sold. That marks the third straight quarter that iPad sales have declined.

“Our fiscal 2014 was one for the record books, including the biggest iPhone launch ever with iPhone 6 and iPhone 6 Plus,” said Tim Cook, Apple’s CEO. “With amazing innovations in our new iPhones, iPads and Macs, as well as iOS 8 and OS X Yosemite, we are heading into the holidays with Apple’s strongest product lineup ever. We are also incredibly excited about Apple Watch and other great products and services in the pipeline for 2015.”

“Our strong business performance drove EPS growth of 20 percent and a record $13.3 billion in cash flow from operations in the September quarter,” said Luca Maestri, Apple’s CFO. “We continued to execute aggressively against our capital return program, spending over $20 billion in the quarter and bringing cumulative returns to $94 billion.”

If you’re interested, Apple is live streaming its Q4 2014 financial results call. You can listen here.

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