Apple has once again smashed its iPhone and iPad shipment records. The company today announced its fiscal 2014 first quarter financial results and once again announced numbers that any other company making smartphones or tablets would kill to have. In the quarter that ended on December 28, 2013, Apple posted revenues of US$57.6 billion, another company record, and a quarterly net profit of US$13.1 billion. Gross margins were down slightly to 37.9% from 38.6% over the same quarter a year ago.
It shipped an incredible 51 million iPhones and 26 million iPads during the quarter, both records for the company. A year ago, it announced shipments of 47.8 million iPhones and 22.9 million iPads. Not to be left behind, Mac shipments also rose over the same quarter a year ago and hit 4.8 million units.
“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.”
If there is a black cloud behind this announcement, it is that analysts expected higher iPhone shipments especially as Apple moved into the Chinese market. Sales in the U.S. were weaker than expected, falling 1% year-over-year. Apple CEO Tim Cook attributed this to longer upgrade cycles and the company’s own misjudgment on demand for the iPhone 5C (lower than expected) and iPhone 5S (higher than expected).
Setting analyst expectations aside, 2014 looks set to be another banner year for Apple. It will reportedly launch larger iPhones this year to replace its 4-inch models. One will sport a 4.7- or 4.8-inch display while another will come with an even larger display rumoured to be in the 5.7-inch range. At last word, both could be unveiled at WWDC 2014. Apple may also finally launch its oft-rumoured iWatch later in the year.