Apple Sells 51 Million iPhones in Last Quarter, Records $13.1 Billion Net Profit

By Vivek

| Published: Tuesday, January 28, 2014, 19:59 [IST]

Samsung's most potential rival, Apple has recently announced its financial results for the last quarter of the calender of 2013.

The company posted record quarterly revenue of $57.6 billion and quarterly net profit of $13.1 billion, or $14.50 per diluted share. It has crossed the revenue of $54.5 billion and net profit of $13.1 billion, or $13.81 per diluted share recorded in last year's last quarter. The gross margin was 37.9% compared to 38.6% in the year-ago quarter. International sales accounted for 63% of the quarter's revenue.

As per the press release, Apple did a record breaking sale of 51 million iPhones compared to 47.8 million in the year-ago quarter. Apple also sold 26 million iPads during the quarter, also an all-time quarterly record, compared to 22.9 million in the year-ago quarter. The Company sold 4.8 million Macs, compared to 4.1 million in the year-ago quarter.

Apple's Board of Directors has declared a cash dividend of $3.05 per share of the Company's common stock. The dividend is payable on February 13, 2014, to shareholders of record as of the close of business on February 10, 2014.

"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's 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."

"We generated $22.7 billion in cash flow from operations and returned an additional $7.7 billion in cash to shareholders through dividends and share repurchases during the December quarter, bringing cumulative payments under our capital return program to over $43 billion," said Peter Oppenheimer, Apple's CFO.

Moreover Apple has also laid down the guidance for its fiscal 2014 second quarter which includes expected revenue of $42-44 billion and gross margin between 37 and 38%. The company also expects an operating expenses between $4.3 billion and $4.4 billion, other income/(expense) of $200 million and a tax rate of 26.2 percent.

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