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Despite record in iPhone sale, Apple first-quarter profit flat

| | Updated on: Jan 28, 2014
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Apple’s first-quarter earnings were helped along by the sale of a 51 million iPhones in the period — an all-time quarterly record — but its $13.1 billion net profit was no different than the same quarter the year before.

The period, which ended December 28 and took in year-end holiday sales, saw Apple achieve record quarterly revenue of $57.6 billion. That compares with $54.5 billion in the same quarter in 2012.

The company said international sales accounted for 63 per cent of the quarter’s revenue.

The 51 million iPhones sold worldwide compared to 47.8 million in the year-ago quarter. Apple also sold 26 million iPads during its the quarter, which is also an all-time quarterly record. In 2012 it sold 22.9 million iPads in its first quarter.

As for Mac computers, it sold 4.8 million units 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 common stock.

“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 Chief Executive. “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.”

Published on January 28, 2014

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