Apple Reports Quarterly Earnings

Posted on January 27, 2014 by Gregg Mojica

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.

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's China revenue hit over $8.4B in Q1, up 29% from 2013 http://t.co/Y41xiNirIK

— AppleInsider (@appleinsider) January 27, 2014

Apple Releases “Your Verse Anthem” Ad

Posted on January 14, 2014 by Gregg Mojica

It’s another dull week inside the world of Apple: no juicy runors, no no products, and no new betas. But, Apple did debut a touching new ad showcasing the incredible possibilities of its iPad. Have a look below.

Update: Link is now fixed. Sorry.

Roundup: Apple’s October 2013 Event

Posted on October 22, 2013 by Gregg Mojica

Apple today announced a slew of new products including OS X Mavericks (available for free today from the Mac App Store), the new Mac Pro, updated MacBook Pros with Retina Displays the iPad Air, and the iPad Mini with Retina Display.

Apple Executive Craig Fedaragi took the stage today to announce the release of OS X Mavericks, the next iteration of the “world’s most advanced desktop operating system.” Fedaragi pleasantly surprised us explaining that Mavericks will be available for free via the mac App Store.

Additionally, the redesigned Mac Pro and new MacBook Pro with Retina display were announced by Phil Schiller, touting new and improved processors, graphics, and more. The new MacBook Pros will be available for purchase today in any Apple retail store. Apple’s latest pro beast, the Mac Pro is substantially smaller and more powerful than it’s predecessor, the 2010 tower. It will be available for sale in December.

While these updates were warmly welcomed, the real star of the show was the iPad. Apple released the iPad Air and iPad Mini with Retina Display to succeed the Fourth Generation iPad and iPad Mini (first gen).

Apple touts the iPad Air as weighing only 1 pound, featuring an all new design, faster A7 Chip, M7 coprocessor, new smart covers, and more. Apple’s design is in line with the first gen and second gen iPad Mini.

The new iPad Mini with Retina Display sports an incredible Retina Display with over 3.1 million pixels. Better contrast and saturation make this a truly incredibly display.

Eddy Cue, SVP of iCloud and internet services demoes the latest update to iLife and iWork claiming it is the most substantial update ever. Both suites are available for either update or purchase on the Mac App Store.

We’ll gave more information and reviews of the new iPads, Macs, and Mavericks coming soon – so stay tuned.