Apple’s Q1 2014 Results: By The Numbers

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As expected, Apple revealed a lot of stats and numbers during its Q1 2014 earnings call. We take a close look at those numbers below.

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iPhone:

  • Apple sold 51 million iPhones, an all-time quarterly record, compared to 47.8 million in the year-ago quarter, 7% increase.
  • Average selling price per iPhone is $637 as compared to $642 year ago and $647 two years ago.
  • Strong sales in Japan, accounts for 69% or smartphone market share in the country.
  • Apple is leading in US with 41% of smartphone subscribers.
  • iPhone accounts for 59% share of US commercial smartphone market in government, business and education, due to security certification from U.S. federal government.
  • 4 to 6 weeks of channel inventory

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iPad:

  • Apple sold 26 million iPads during the quarter, also an all-time quarterly record, compared to 22.9 million in the year-ago quarter, up 14%
  • Sales of the iPad in China doubled year over year
  • 78% share of US commercial tablet market share including British Airways, Kindred and the NFL
  • 7 million iPads purchased for educational institutions
  • 4 to 6 weeks of channel inventory

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iPod:

  • iPod sales of 6 million units, down from 12.6 million units in the year-ago quarter
  • iPod sales fell 52% from the year-ago quarter
  • 4 to 6 weeks of channel inventory

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Mac:

  • The Company sold a record 4.8 million Macs, compared to 4.1 million in the year-ago quarter
  • iMac and MacBook Air lead in Mac sales
  • 4-5 Weeks of Mac Channel Inventory

iOS:

  • 80% of devices are running iOS 7
  • 1 million apps in 24 categories, and cumulative downloads have surpassed 65 billion
  • Paid out $2 billion to developers during its fiscal Q1 2014
  • $15 billion in cumulative App Store earnings for developers, about 50% of which was generated in last four quarters
  •  Over 130,000 apps to date in the Chinese App Store
  • iTunes/Software/Service, revenue of $4.4 billion, up 19% year over year

 

Apple Stores:

  • Retail sales rose 9% to nearly $7 billion, up from $6.4 billion a year earlier
  • 420 stores, 166 outside the US.  Remodel of 6 stores and opened 4 new stores
  • $16.7 million average revenue per store
  • Almost 21,000 visitors per store per week

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Financials:

  • Apple posted record quarterly revenue of $57.6 billion as compared to $54.5 billion in the year-ago quarter
  • Quarterly net profit stayed flat at $13.1 billion
  • EPS climbed to $14.50 per diluted share, as compared to $13.81 per diluted share, in the year-ago quarter
  • Gross margin was 37.9 percent compared to 38.6 percent in the year-ago quarter
  • International sales accounted for 63 percent of the quarter’s revenue
  • The Americas continues to be Apple’s largest segment, but it’s declining. Revenue in the Americas fell 1% to $20.1 billion, down from $20.3 billion
  • Sales in “Greater China” (including Hong Kong and Taiwan) rose 29%, and Japan rose 11%. The rest of Asia/Pacific fell 9% and Europe rose only 5%.
  • $158 billion in cash, $124.4 billion or 78% of total cash was offshore at the end of Dec. quarter
  • Tax rate for the quarter was 26.2%
  • Dividend payout of $3.05 per share payable in February

Those are some impressive set of numbers for a company that generates more than $100 billion in revenues in a year, however Wall Street isn’t impressed. Apple’s stock has fallen in after market trading and is down by over 7.5% at the time of writing this post. Investors and analysts seem to be quite concerned about Apple’s growth prospects.

You can listen to the recording of Apple’s earning conference call here.

[Images from WSJ]

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Categories: Apple News