Apple has just announced the financial results for the first quarter (Q1) of 2015 which comprises of the fourth calendar quarter of 2014. The Cupertino company has expected even the Wall Street’s expectations and has delivered a record-breaking quarter.
Apple has made a quarterly revenue of US $74.6 billion in the first quarter (Q1) which pushes net profit to whopping US $18 billion, that is an equivalent to US $3.06 per diluted share. If we compare it to the previous year this quarter, it was a revenue of US $57.6 billion and a net profit of US $ 13.1 billion, which is US $2.07 per diluted share. This year’s gross margin was 39.9 percent compared to 37.9 percent in the year-ago quarter. This year 65 percent of this quarter’s revenue came from the overseas market.
This record-breaking revenue is the result of record-breaking sales. 74.5 million iPhones were sold in the last quarter which is close to Apple’s target of selling 80 million iPhones. A year ago this quarter only 51 million iPhones were sold. This shows how successful the newly launched iPhone 6 and 6 Plus has been worldwide. Apple sold 5.5 million units of Mac this quarter compared to 4.8 million last year. However iPad sales have been down and only 21.4 million units were sold compared to 26 million last year.
On this incredible performance, Tim Cook, CEO of Apple, said,
“We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high. Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal.
On this occasion, Luca Maestri, CFO of Apple, said,
“Our exceptional results produced EPS growth of 48 percent over last year, and $33.7 billion in operating cash flow during the quarter, an all-time record. We spent over $8 billion on our capital return program, bringing total returns to investors to almost $103 billion, over $57 billion of which occurred in just the last 12 months.”
Apple has declared a cash dividend of $.47 per share of the company’s common stock. The dividend is payable on February 12, 2015, to shareholders of record as of the close of business on February 9, 2015.
The company is providing guidelines for the second quarter of 2015 where US $52-55 billion revenue is expected with gross margin between 38.5 to 39.5 percent. There will be operating expenses between $5.4 billion and $5.5 billion with other income/(expense) of $350 million at a tax rate of 26.3 percent.