Apple reports Q2 2014 revenue at $45.6 billion driven by iPhone sales

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Apple reports Q2 2014 revenue

Apple has reported its revenue results for the second quarter of 2014, and while there maybe reason to celebrate the company’s strong revenue growth, it seems Apple has something to think about regarding iPad sales. Apple reported $45.6 billion in revenue for the quarter, a strong increase compared to previous quarter’s earnings of $42-$44 billion. It also beats analysts estimates as well as last year’s revenue for the same quarter, which was $43.6.

Apple said the growth in revenues was driven by strong iPhone sales. For the quarter, Apple has sold 43.7 million iPhones. Unfortunately, sales of the iPad were not as good, with only 16.3 million iPad sold during the said quarter. Mac sales were pretty solid with 4.1 million. Comparing these individual figures with analysts estimates of 38 million iphones, 19.3 million iPads, and 4 million Macs—as well as with last year’s results of 37.4 million iPhones, 19.5 million iPads and 4 million Macs—we clearly see that iPad sales were the only disappointment.

“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO. “We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”

“We generated $13.5 billion in cash flow from operations and returned almost $21 billion in cash to shareholders through dividends and share repurchases during the March quarter,” said Peter Oppenheimer, Apple’s CFO. “That brings cumulative payments under our capital return program to $66 billion.”

Additionally, Apple reported a net quarterly profit of $10.2 billion, or $11.62 per diluted share. In the same quarter last year, those figures were $9.5 billion, or $10.09 per diluted share.

Apple also announced the following guidance for its fiscal 2014 third quarter:

  • revenue between $36 billion and $38 billion
  • gross margin between 37 and 38%
  • operating expenses between $4.4 billion and $4.5 billion
  • other income/(expense) of $200 million
  • tax rate of 26.1 percent
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