Apple’s fiscal 2014 first quarter ended on December 28, 2013 and soon after trading closed for the day, the Apple Q1 2014 earnings were officially announced. The company had a record quarter as far as iPhone and iPad sales are concerned, even if it didn’t exactly meet Wall Street’s expectations. An all-time quarterly record was established in Q1 2014 as Apple sold 51 million iPhones and 26 million iPads. During the same quarter last year, 47.8 million iPhones and 22.9 million iPads were sold. Mac sales topped 4.8 million, as opposed to 4.1 million in the year-ago quarter.
Apple posted record revenue of $57.6 billion with a net profit of $13.1 billion, which equals to $14.50 per diluted share. Net profit remained flat year-over-year, as the company posted $54.5 billion in revenue and $13.1 billion in net profit same quarter last year. Only six million units were sold, translating into a 52 percent year-over-year decline. iPods only accounted for $973 million of the $57.6 billion in total quarterly revenue, while the figure might seem a lot to some, its unbecoming of Apple. The company’s board has declared a cash dividend of $3.05 per share of common stock, payable on February 13, 2014. Guidance for Q2 2014 has also been issued, with Apple expecting revenue between $42 billion and $44 billion. Analysts claim that iPhone sales growth will virtually be flat this quarter, when compared to the year-ago quarter.