Apple has announced its latest financial results for its first quarter, which ended on 31st December, posting record highs in terms of product sales, revenue and earnings. Quarterly revenue reached an all-time high of $46.33 billion, a staggering increase on last year’s figure of $26.74 billion. It seems that despite the gloomy economic climate, Apple is one company that’s still booming.
Net quarterly profit also more than doubled on last year’s figure of $6 billion to $13.06 billion in the latest quarter; that’s a rise from $6.43 to $13.87 per diluted share. Gross margins rose 6.2 per cent to 44.7 per cent on last year’s figures for the same period, with 58 per cent of this quarter’s revenue coming from international sales.
And sales are booming across the Apple device range, with all-time high iPhone, iPad and Mac sales reported. The iPhone range saw 128 per cent unit growth, with Apple shifting 37.04 million iPhones over the latest quarter. This despite launching the most expensive iPhone to date in October last year, the phenomenally successful iPhone 4S. have managed to significantly reduce the costs to iPhone users, even if the price of the devices themselves has risen.
While the biggest rise in sales is attributed to the iPhone range, iPads also saw a significant rise in units shifted over the Christmas period. Sales are up 111 per cent on last year, to 15.43 million over the last quarter. Macs saw a rise in sales of 26 per cent to 5.2 million, however iPod sales dropped by 21 per cent to 15.4 million.
The company was understandably thrilled with their record-breaking sales and revenue figures, and forecasts continued growth for the year ahead, with new products due for release later this year, including the much-anticipated iPhone 5. Having already generated over $17.5 billion in cash flow over the latest quarter, they predict revenue to hit around $32.5 billion over the next fiscal quarter, with diluted earnings per share of around $8.50. Although this is down on the December quarter, this is to be expected as sales tend to peak over the December quarter, which covers the major Christmas sales period.
The figures were streamed live via Apple’s QI 2014 financial results conference webcast on 24th January 2014, and the conference is still available to view online for a limited time.