Apple today announced financial results for its fiscal 2014 second quarter ended March 29, 2014. The Company posted quarterly revenue of $45.6 billion and quarterly net profit of $10.2 billion, or $11.62 per diluted share. These results compare to revenue of $43.6 billion and net profit of $9.5 billion, or $10.09 per diluted share, in the year-ago quarter. Gross margin was 39.3% compared to 37.5% in the year-ago quarter. International sales accounted for 66% of the quarter’s revenue.

“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO, in a staement. “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, in a statement. “That brings cumulative payments under our capital return program to $66 billion.”

• iPhone: 43.719 million units, $26.064 billion revenue

• iPad: 16.350 million units, $7.610 billion revenue

• Mac: 4.136 million units, $5.519 billion revenue

• iPod: $2.761 million units, $461 million revenue

• iTunes/Software/Services: $4.573 billion revenue

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

• revenue between $36 billion and $38 billion

• gross margin between 37 percent and 38 percent

• operating expenses between $4.4 billion and $4.5 billion

• other income/(expense) of $200 million

• tax rate of 26.1 percent

Wall Street analysts were expecting:

• Thomson Reuters: $10.18 a share on $43.53 billion in revenue

• FactSet: $10.19 a share on $43.7 billion revenue

• Bloomberg:

– Revenue: $43.6 billion

– EPS: $10.16

– Gross margin: 37.7%

– iPhone unit sales: 37.7 million units

– iPhone average selling price (ASP): $610

– iPad unit sales: 19.7 million units

– iPad ASP: $430

– Mac unit sales: 4.03 million units

– iPod unit sales: 2.99 million units

– Apple’s Q314 revenue guidance: $38.1 billion

MacDailyNews Take: Boom!

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Apple announces 7-for-1 stock split; boosts dividend, ups buybacks to $90 billion

– April 23, 2014