Apple Reports Quarter One Earnings
This afternoon Apple announced their earning for quarter one of 2014. This time around they got $57.6 billion in revenue, a net profit of $13.1 billion, or $14.50 per diluted share. Compare this to their year-ago quarter with revenue of $54.5 billion, a net quarterly profit of $13.1 billion, or $13.87 per diluted share and you can see they’re doing a little better.
This quarter Apple sold 51 million iPhones, which is up from 47.8 million a year ago. They also sold 26 million iPads. This is a new record for them. Just last year Apple sold 22.86 million. As for the Mac, they sold 4.8 million units, compared to 4.06 million a year ago. iPhone sales make up 56% of their devices profit, 8% for iTunes, 2% for iPod, 11% for Mac, 20% for iPad, and 3% for other items. Sales for other, iTunes, and Mac are down compared to quarter 4, while iPhone and iPad sales are up. iPod sales remain at 2%.