Apple Reports Quarterly Earnings

Apple today announced its quarterly earnings.   The conference call officially begins at 5:00 EST/2:00 PST.  Listen live here.  We will bring you updated news as time progresses.  The company had a record breaking quarter.

AppleYearIn Review

Quarter 1 accounts for the holiday season, the most important quarter of the year.  Apple also reached a multi year deal with China Mobile in late 2013.

Apple’s Quarterly Earnings

iPhone and iPad Sales Drive Record Revenue and Operating Profit

CUPERTINO, Calif.–(BUSINESS WIRE)–Apple® today announced financial results for its fiscal 2014 first quarter ended December 28, 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. These results compare to revenue of $54.5 billion and net profit of $13.1 billion, or $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.

“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.”

The Company sold 51 million iPhones, an all-time quarterly record, 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.

Apple is providing the following guidance for its fiscal 2014 second quarter:

• revenue between $42 billion and $44 billion

• gross margin between 37 percent and 38 percent

• operating expenses between $4.3 billion and $4.4 billion

• other income/(expense) of $200 million

• tax rate of 26.2 percent

Apple will provide live streaming of its Q1 2014 financial results conference call beginning at 2:00 p.m. PST on January 27, 2014 at www.apple.com/quicktime/qtv/earningsq114. This webcast will also be available for replay for approximately two weeks thereafter.

Apple News Roundup

As a blizzard pounds the east coast and CES (Consumer Electronics Show) is live in Las Vegas, there’s not too much going on inside the world of Apple lately.

Apple did, however, release the third beta of iOS 7.1 to developers today.  The third beta brings some minor UI enhancements, but they certainly are nice ones.  The iPhone app’s dialer has been redesigned and the screen (when accepting calls) has also been given a fresh new design.  Even the power off slider is redesigned (let’s hope Apple keeps these around when it releases iOS 7.1).  

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Image Credit 9to5Mac (Image Editing AppleRumors.NET)

Just mere minutes ago we were told that Apple has released an online store via Tmall.   Apple’s Tmall site will feature Red Friday, a sales event later this week for Asian countries.  Apple currently operates a Chinese online store.  This new store is a new addition to the company’s Asian offerings.

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There’s a lot of new toys at CES 2014 in Las Vegas.  At the annual Consumer Electronics Show, Apple’s main competitor, Samsung, unveiled it’s “Smart Life” suite of products.  Although Apple is not officially present at the conference, there are many signs of its presence.  A new iPort allows the iPad Air to be charged wirelessly, Morphie has all new cases, and Otterbox too.  We’ll bring you more coverage of CES later in the week.

Wow, glad that’s over. 😀

 

 

 

Breaking: Apple releases Apple Store app for iPad

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Apple today finally released an iPad version of its popular Apple Store app. The Apple Store app had long been an iPhone-only app, making many wonder if Apple would ever release an iPad version. iPhone user Saint0327 reviewed the last iPhone version with a mere one star writing “Hey Apple, there’s a new device called the iPad.” Many other users have also voiced their concern about the current iPhone version.

The iPad version, however, is not a universal app and is separate from the iPhone version. The new app sports a design in-line with iOS 7.

You can download the new app from the App Store.

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Apple Updates Find my Friends App

Apple yesterday updated its Find my Friends app for iOS 7. This marks the last major Apple app to be updated with the new design changes in iOS 7. iOS 7 debuted in mid-September and Apple issued subsequent updates for its iOS apps.

Only iTunes Connect, the developer portal, is missing an iOS 7 update (this is not a consumer app).

Find my Friends now sports a completely new and redesigned interface. Let us know what you think of the new UI in the comments below!

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Apple Updates Remote

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Apple yesterday updated Remote (AppStore.com/Remote), it’s remote app for controlling an iTunes library or Apple TV. Remote has been updated with iOS 7 features, making the new version 4.0 update a major uverhaul.

Remote is the latest Apple app to receive a major update (Apple updated podcasts, Find my Friends, iTunes Trailers, and other apps in the past few weeks.

Most notably, Apple has not updated iBooks and iTunes U with iOS 7 designs. This leads us to ask, Will Apple update them in the coming weeks or hold an education event similar to it’s January 2012 event?

Apple Updates Find My Friends, Podcasts, and iTunes Trailers

Find My Friends, Podcasts, and iTunes Trailers have all been updated today with a new iOS 7 look and feel.  The new apps feature iOS 7’s opacity, clarity, and ultra minimalism.

New icons have also been released with the icons.Image

iBooks still hasn’t been updated…how strange?  Hope to see it within the next week or so!

Developer Betas Expiring

Developers who have not updated from the beta versions of iOS have discovered that the software has expired and requires “activation.”

Developers can resolve this problem by restoring their iDevice with a fresh install of the latest version of iOS, 7.0.02, from the iOS Developer Center. Developers will need iTunes 11.1.