Apple sold 51 million iPhones last quarter, posted $57.6 billion in revenue

Apple set records in both iPhone sales and quarterly revenue

Apple set two records for itself in the first quarter of its 2014 fiscal year, selling 51 million iPhones and reporting revenue of $US57.6 billion, with a net profit of $US13.1 billion.

Apple said it also sold 26 million iPads during the quarter, topping its previous record of 22.9 million sold in the year-earlier quarter, when it also sold 47.8 million iPhones. Mac sales were up to 4.8 million from 4.1 million in the first quarter of fiscal 2013.

The company's gross margins slipped to 37.9 per cent from 38.6 per cent in the comparable quarter a year ago. Apple said that 63 per cent of its revenue came from international sales.

Earnings per share, at $US14.50, were in line with analysts' estimates that averaged $US14.09 per share. Apple will pay a cash dividend of $US3.05 per share on Feb. 13.

For the current, second fiscal quarter, Apple is forecasting revenue between $US42 billion and $US44 billion, and gross margins between 37 and 38 per cent.

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Tags business issuesApplefinancial results

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Elizabeth Heichler

IDG News Service
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