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Old Jan 27, 2014, 03:34 PM   #1
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Apple Reports Strongest Ever Quarterly Earnings: $13.1 Billion Profit on $57.6 Billion in Revenue in Q1 2014




Apple today announced financial results for the fourth calendar quarter of 2013 and first fiscal quarter of 2014.

For the quarter, Apple 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.

Gross margin was 37.9 percent compared to 38.6 percent in the year-ago quarter, with international sales accounting for 63 percent of revenue. Apple also declared a dividend payment of $3.05 per share, payable on February 13 to shareholders as of the close of trading on February 10. The company currently holds $158.8 billion in cash and marketable securities.

Apple had previously issued guidance for the quarter of revenues between $55-58 billion, with gross margin between 36.5 and 37.5 percent.

Apple sold a record 51 million iPhones in the quarter, up from 47.8 million in the same time period last year, and the company has now sold 472.3 million smartphones in total. It sold 26 million iPads, a new record, up from 22.86 million last year. Apple has now sold 195 million tablets. It sold 4.8 million Macs during the quarter, compared to 4.06 million in the year-ago period.
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"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."
Apple's guidance for the second quarter of fiscal 2014 includes expected revenue of $42-44 billion and gross margin between 37 and 38 percent. This guidance reflects an expectation for near zero growth from Q2 of fiscal 2013.

Apple will provide live streaming of its Q1 2014 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Conference Call and Q&A Highlights are available in reverse chronological order after the jump.

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Article Link: Apple Reports Strongest Ever Quarterly Earnings: $13.1 Billion Profit on $57.6 Billion in Revenue in Q1 2014
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Old Jan 27, 2014, 03:34 PM   #2
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Apple is doomed

Seriously they're really hitting on all cylinders and this is good news to the investors and us customers.

I just hope they take these profits to increase their innovation, the so called iWatch and TV are nowhere to be seen and we've not seen any major changes to the iDevices.

Edit:
Looks like the folks who follow this more accurately detail a less then rosy picture, due to lack of growth.
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Last edited by maflynn; Jan 27, 2014 at 03:39 PM.
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Old Jan 27, 2014, 03:35 PM   #3
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And their stock is down $24.
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Old Jan 27, 2014, 03:35 PM   #4
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Quote:
Originally Posted by maflynn View Post
Apple is doomed

Seriously they're really hitting on all cylinders and this is good news to the investors and us customers.
The stock is off 5% after hours. The iPhone number was a big "miss" though earnings and margin were slight beats.
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Old Jan 27, 2014, 03:35 PM   #5
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Impressive
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Old Jan 27, 2014, 03:36 PM   #6
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I knew the first comment was going to reference being doomed
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Old Jan 27, 2014, 03:36 PM   #7
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Show this post to the people that claim "Apple is doomed".
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Old Jan 27, 2014, 03:36 PM   #8
irfaanfaki
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So apparently Apple is down 4% in after hour trading !
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Old Jan 27, 2014, 03:36 PM   #9
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Originally Posted by Mtmspa View Post
And their stock is down $24.
It's the iPhone number. Analysts got ahead of themselves again, and so 51 million is a "disappointment."
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Old Jan 27, 2014, 03:36 PM   #10
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Now can every single "Analyst" who was wrong be fired?
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Old Jan 27, 2014, 03:36 PM   #11
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Quote:
Originally Posted by maflynn View Post
Apple is doomed

Seriously they're really hitting on all cylinders and this is good news to the investors and us customers.
they are making lots of money but margins are dropping and growth is gone

5 years ago they never discounted the iphone. now the latest model is always on sale
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Old Jan 27, 2014, 03:36 PM   #12
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Originally Posted by KPOM View Post
The stock is off 5% after hours. The iPhone number was a big "miss" though earnings and margin were slight beats.
Ouch, I didn't realize

Hopefully they can back on track with the iPhone 6
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Old Jan 27, 2014, 03:37 PM   #13
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now $30.
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Old Jan 27, 2014, 03:37 PM   #14
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Originally Posted by irfaanfaki View Post
So apparently Apple is down 4% in after hour trading !
It's now down 6%. It's getting ugly.
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Old Jan 27, 2014, 03:37 PM   #15
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Only on Wall Street is it a disappointment when Apple sells an all-time record number of iPhones (51 million) in a quarter.
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Old Jan 27, 2014, 03:37 PM   #16
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iPhone numbers less than expected so immediate reaction is to sell off. Guidance not great. Growth definitely slowing, time for new product lines.
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Old Jan 27, 2014, 03:37 PM   #17
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Hmm, seems on the low end of iPhone projections.
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Old Jan 27, 2014, 03:37 PM   #18
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Originally Posted by irfaanfaki View Post
So apparently Apple is down 4% in after hour trading !

no profit growth, why would the stock go up?
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Old Jan 27, 2014, 03:37 PM   #19
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"Strongest ever quarterly earnings" according to whom? Their margins are down from last year, thus the 6% after hours slide.

Again, it's just a stupid betting game. Long investors lose money despite insane profits.
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Old Jan 27, 2014, 03:37 PM   #20
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Old Jan 27, 2014, 03:38 PM   #21
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Quote:
Originally Posted by alent1234 View Post
they are making lots of money but margins are dropping and growth is gone

5 years ago they never discounted the iphone. now the latest model is always on sale
Actually margins rose YOY.
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Old Jan 27, 2014, 03:38 PM   #22
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iPod grew?
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Old Jan 27, 2014, 03:38 PM   #23
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Originally Posted by MTL18 View Post
iPhone numbers less than expected so immediate reaction is to sell off. Guidance not great. Growth definitely slowing, time for new product lines.

yep

AT&T is offering me NEXT and i might go get a Note 3 in an hour
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Old Jan 27, 2014, 03:38 PM   #24
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This is the fourth-highest quarterly earnings (profit) by any company (any country).

Of the six highest earnings ever, Apple now owns positions 4, 5, and 6. The top three are all oil companies. Of the top 20, Apple is the only non-oil company.

1. Gazprom (Russian oil), $16.24B USD, August 2011
2. Royal Dutch Shell (Netherlands/UK oil), $15.68B USD, June 2008
3. Exxon (US oil), $14.8B USD, September 2008
4. Apple, $13.1B USD, January 2014
5. Apple, $13.08B USD, January 2013
6. Apple, $13.06B USD, January 2012

http://en.wikipedia.org/wiki/List_of...gs_of_All_Time
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Last edited by macrumorsuser10; Jan 27, 2014 at 03:57 PM.
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Old Jan 27, 2014, 03:38 PM   #25
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Wall Street is gonna crucify Apple for these numbers, investors beware!
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