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.

wsj-iphone-sales-q114
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

wsj-ipad-sales-q114

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

wsj-ipod-sales-q114

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

wsj-mac-sales-q114

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

wsj-apple-revenue-q114

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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  • Jeremy Taco Patterson

    Good Lord, just what does Apple have to do to “impress” Wall Street?

    Sell 100M phones and 75M iPads while profiting $20B?

    I mean… “profit remained a flat $13.1 billion”. THIRTEEN. BILLION. PROFIT.

    Wall Street is moronic.

    • Gautam

      I guess they are looking for year on year growth. Welcome to the cruel world of Wall Street.

      • Boat Boy

        Why should the stock price go up if earnings are flat?

        • Jeremy Taco Patterson

          Why should the stock price fall if earnings are flat?

    • ryan515

      Its just that they have to much money…Okay you have a lot of money and they all you’re doing is leaving it in the bank? Why not use it and create something new? All what they have been doing is lighter and faster, after while not much of innovation.

      • Jeremy Taco Patterson

        Right, because taking an already impossibly thin, light, and fast phone and making it thinner, lighter and faster requires no innovation.

        I don’t get why people have this mentality that a phone must do a new trick to be innovative. Apparently people expect FAR more from a smartphone than I do.

        • ryan515

          To some extent it doesn’t require innovation, it just follows Moore’s Law. Stating that the number on integrated circuit doubles every year. don’t get me wrong moores law can make technology come to life but in case, not as a wow factor in this case.
          Apple is smart, they want money thats why they released “3g”,”4s”,”5s” how is better than before? Oh just little faster than before,and an extra mega pixel.
          sep 21 2012, the release of the iPhone 5 thats is also when the stock started to crash. ( I bought one, need an upgrade) but investors didn’t buy this new product. $700 for share and not much is changing, you start to wonder if they have any ideas left. Some companies can’t get their ideas out because the lack of funding but Apple on the other hand has so much that they don’t know what to do.