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Apple quarterly profit flat, iPhone sales hit new record

2014-01-28 08:39:00| Telecompaper Headlines

(Telecompaper) Apple reported revenues of USD 57.6 billion for its fiscal first quarter to December, up from USD 54.5 billion a year earlier. The growth was in line with the company's outlook and supported by the release of the new iPhones from September. The company's gross margin dropped to 37.9 percent from 38.6 percent, net profit was unchanged year-on-year at USD 13.1 billion, and EPS increased to USD 14.50 from USD 13.81 a year ago. Apple hit a new quarterly record with 51 million iPhones shipped, up from 47.8 million in the year-ago quarter. iPad shipments also reached a new record, of 26 million versus 22.9 million a year earlier, after the launch of new models in November. In addition, Apple increased Mac sales to 4.8 million from 4.1 million in the year-ago quarter. The company generated USD 27.7 billion in operating cash flow in the quarter and paid USD 7.7 billion to shareholders in dividend and share repurchases. Apple will pay another quarterly dividend of USD 3.05 per share in February. For fiscal Q2, the company forecast revenue of USD 42-44 billion, a gross margin of 37-38 percent and operating costs of USD 4.3-4.4 billion.

Tags: sales record hit flat