Apple reports US$13bn profit on revenues of US$57.6bn – 51m iPhones sold

27 Jan 2014

Apple CEO Tim Cook

Apple has reported Q1 revenues of US$57.6bn yielding a net profit of US$13.1bn after a first quarter in which it sold some 51m iPhone smartphone devices – beating all previous records.

The 51m iPhones sold is an increase over the 47.8m units sold last year.

The Californian tech giant sold 26m iPad tablet computers – also an all-time record – up from 22.9m a year ago.

Mac computer sales were up to 4.8m from 4.1m last year.

“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.”

Looking ahead to the second quarter, Apple predicted revenues of between US$42bn and US$44bn.

“We generated US$22.7bn in cash flow from operations and returned an additional US$7.7bn in cash to shareholders through dividends and share repurchases during the December quarter, bringing cumulative payments under our capital return programme to over US$43bn,” said Peter Oppenheimer, Apple’s CFO.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years