Apple announces Q1 2014 earnings: $57.6bn revenue, $13.1bn net profit, 51M iPhones, 26M iPads, 4.8M Macs
Apple has announced its fiscal Q1 2014 earnings (Q4 2013 on the calendar), breaking revenue, iPhone, and iPad sales records.
The company saw $57.6 billion in revenue and $13.1 billion in net profit during the three-month period. Christmas sales fuelled 51 million iPhones (compared to 47.8 million in the year-ago quarter), 26 million iPads (compared to 22.9 million in the year on year), and 4.8 million Macs (compare to 4.1 million in the year-ago quarter), landing in customers' homes during the 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 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 iPod sales were down by half compared to the same quarter last year, selling 6 million units.
Next quarter Apple is expecting revenue between $42 billion and $44 billion. The market is reacting negatively to today's news, down roughly 6 per cent in after hours trading. The only place Apple missed analysts' expectations was iPhone sales - expecting 55 million sold, rather than 51 million.
Apple's main competitor Samsung didn't have the same luck during the same period. Operating profit from device sales was flat compared to the year before and slipped 18 per cent compared to the third quarter. Apple, on the other hand, posted gains.
Apple will be holding a conference call with investors at 10pm (4pm EST) to talk about the quarter. Pocket-lint will be tuning into the call for the latest, where the company usually drops noteworthy information. You can find the latest in our Apple hub.