Flat net profit for Apple in first quarter, 2014

Apple has posted a flat quarterly net profit of $13.1 billion for first quarter of 2014 in comparison to $13.1 billion in the year-ago qaurter.

The company posted record quarterly revenue of $57.6 billion and compare to revenue of $54.5 billion 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.

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, CEO, Apple.

“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,” added Cook.

“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, CFO, Apple.

For the second quarter Apple has given a revenue guidance between $42-44 billion and gross margin will be between 27-38 percent. Operating expenses for the company will be between $4.3-4.4 billion.

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