Apple’s 2014 Q1: 51M iPhones Sold, $57.6B in Revenue

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The moment you all expected is finally here: Apple has published its 2014 Q1 earnings, announcing that it has sold 51 million iPhones, $57.6 billion in revenue, that brought the iPhone maker a net profit of $13.1 billion. You can find a breakdown of the sales below:

- 51 million iPhones (47.8 million in the year-ago quarter)
- 26 million iPads (22.9 million in the year-ago quarter)
- 4.8 million Macs (4.1 million in the year-ago quarter)
- sales have generated $22.7 billion in cash.

“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 is looking back at a tremendous quarter with successful product launches: It launched the iPad Air and the Retina iPad mini, which together accounted for more than 50% of all iPad sales, according to a CIRP study and it launched the Mac Pro.

Analysts obviously did their homework, and the consensus among the 47 Apple analysts Fortune asked was $58.1 billion in sales and earnings of $14.36 per share. The top iPhone sales estimate was 61 million units, while the lowest was 50 million units, averaging the estimate at 55.39 million iPhones sold in a single quarter.

Apple is looking forward confidently to the first calendar quarter of 2014 with the following forecast:

• revenue between $42 billion and $44 billion

• gross margin between 37 percent and 38 percent

• operating expenses between $4.3 billion and $4.4 billion

• other income/(expense) of $200 million

• tax rate of 26.2 percent

In the end, we can expect positive changes in terms of sales for the first three months of this year. Apple has launched the iPhone on the network of the world’s biggest carrier, China Mobile; Russian telecoms have resumed selling the iPhone; and the company is also implementing a new marketing strategy in India.

Technology enthusiast, rocker, biker and writer of iPhoneinCanada.ca. Follow me on Twitter or contact me via email: istvan@iphoneincanada.ca