Apple today released its first quarter 2014 earnings, revealing that the company has once again set holiday sales records.
Apple took in $13.1 billion in earnings during the holiday quarter on $57.6 billion revenue. The company’s earnings match the $13.1 billion it earned during last year’s first quarter, though revenue was up 5.6% over first quarter 2013 revenues. Apple’s gross margin dipped slightly to 37.9% versus the 38.6% seen during the first quarter 2013.
Though Apple’s latest quarterly earnings don’t break records, the company’s sales of iPhone and iPad devices certainly do. Apple sold 51 million iPhones during the first quarter, up 6.7% from the 47.8 million iPhones sold last year. The company also sold 26 million iPads during the holiday quarter, up 13.5% from the 22.9 million iPads sold in Q1 2013. Both of these totals represent quarterly records for iPhone and iPad sales.
“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 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.”
Though not a record, Apple sold 4.8 million Mac PCs during the first quarter 2014, up slightly from the 4.1 million Macs sold last year.
For the current quarter Apple issued revenue guidance of $42 billion to $44 billion. The company is not expected to reveal any new products before the end of its second quarter. By the end of the year, however, Apple will have revealed its refreshed line of iPad and iPhone devices, possibly including the rumored iPhone 6 with a larger display and the rumored 12-inch mega-tablet version of the iPad.
Image via Apple