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Apple announces Q1 2015 revenue of $74.6b: 74.4m iPhones, 21.4m iPads, 5.5m Macs

(Image via Michael Steeber)

Apple announced its Q1 2015 earnings results today reporting $74.6 billion in revenue earning $18 billion in profit during the three-month period.

Apple® today announced financial results for its fiscal 2015 first quarter ended December 27, 2014. The Company posted record quarterly revenue of $74.6 billion and record quarterly net profit of $18 billion, or $3.06 per diluted share. These results compare to revenue of $57.6 billion and net profit of $13.1 billion, or $2.07 per diluted share, in the year-ago quarter. Gross margin was 39.9 percent compared to 37.9 percent in the year-ago quarter. International sales accounted for 65 percent of the quarter’s revenue.

In addition to its revenue and profit disclosure, Apple reported sales numbers for the following categories:

  • iPhone: 74.4 million units
  • iPad: 21.4 million units
  • Mac: 5.5 million units
  • iTunes: $4.7 billion
  • Accessories: $2.6 billion

Totals:

  • Revenue: $74.6 billion
  • EPS: $3.06 per share

Apple CEO Tim Cook said the following regarding the quarter:

“We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high,” said Tim Cook, Apple’s CEO. “Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal.”

Apple CFO Luca Maestri added this:

“Our exceptional results produced EPS growth of 48 percent over last year, and $33.7 billion in operating cash flow during the quarter, an all-time record,” said Luca Maestri, Apple’s CFO. “We spent over $8 billion on our capital return program, bringing total returns to investors to almost $103 billion, over $57 billion of which occurred in just the last 12 months.”

Ahead of today’s earnings report, sales numbers for both the iPhone and iPad were particular areas of interest. Q1 2015 held the bulk of the iPhone 6 and iPhone 6 Plus sales in the United States and saw the new iPhone models debut in key countries like China. Meanwhile, the iPad sales numbers were particularly interested following last quarter’s year-over-year shipment decrease and the release of the iPad Air 2 and iPad mini 3 in October.

Apple’s Q1 2015 numbers follow last quarter’s results of $42.1 billion in revenue and sales of 39 million iPhones, 12.3 million iPads, and 5.5 million Macs. For the same quarter a year ago, Apple reported $57.6 billion in revenue and sales of 51 million iPhones, 26 million iPads, and 4.8 million Macs. Compare also to profit last quarter of $8.5 million and a year ago of $13.1 billion.

Apple will hold its conference call today at 2 PM Pacific/5 PM Eastern to discuss the quarter’s numbers, follow along for our coverage then. Both Cook and Maestri will likely share prepared remarks then answer a round of questions from analysts on the call.

For Q2 2015 Apple is providing guidance between $52 billion and $55 billion. The full Q1 earnings results release is below:

Apple Reports Record First Quarter Results

Highest-ever revenue & earnings drive 48% increase in EPS

Growth led by record revenue from iPhone, Mac & App Store

CUPERTINO, Calif.–(BUSINESS WIRE)–Apple® today announced financial results for its fiscal 2015 first quarter ended December 27, 2014. The Company posted record quarterly revenue of $74.6 billion and record quarterly net profit of $18 billion, or $3.06 per diluted share. These results compare to revenue of $57.6 billion and net profit of $13.1 billion, or $2.07 per diluted share, in the year-ago quarter. Gross margin was 39.9 percent compared to 37.9 percent in the year-ago quarter. International sales accounted for 65 percent of the quarter’s revenue.

“Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal.”

The results were fueled by all-time record revenue from iPhone® and Mac® sales as well as record performance of the App Store℠. iPhone unit sales of 74.5 million also set a new record.

“We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high,” said Tim Cook, Apple’s CEO. “Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal.”

“Our exceptional results produced EPS growth of 48 percent over last year, and $33.7 billion in operating cash flow during the quarter, an all-time record,” said Luca Maestri, Apple’s CFO. “We spent over $8 billion on our capital return program, bringing total returns to investors to almost $103 billion, over $57 billion of which occurred in just the last 12 months.”

Apple is providing the following guidance for its fiscal 2015 second quarter:

• revenue between $52 billion and $55 billion

• gross margin between 38.5 percent and 39.5 percent

• operating expenses between $5.4 billion and $5.5 billion

• other income/(expense) of $350 million

• tax rate of 26.3 percent

Apple’s board of directors has declared a cash dividend of $.47 per share of the Company’s common stock. The dividend is payable on February 12, 2015, to shareholders of record as of the close of business on February 9, 2015.

Apple will provide live streaming of its Q1 2015 financial results conference call beginning at 2:00 p.m. PST on January 27, 2015 at www.apple.com/quicktime/qtv/earningsq115. This webcast will also be available for replay for approximately two weeks thereafter.

This press release contains forward-looking statements including without limitation those about the Company’s estimated revenue, gross margin, operating expenses, other income/(expense), and tax rate. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; risks associated with the Company’s international operations; the Company’s reliance on third-party intellectual property and digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the Company’s dependency on the performance of distributors, carriers and other resellers of the Company’s products; the effect that product and service quality problems could have on the Company’s sales and operating profits; the continued service and availability of key executives and employees; war, terrorism, public health issues, natural disasters, and other circumstances that could disrupt supply, delivery, or demand of products; and unfavorable results of other legal proceedings. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 27, 2014, and its Form 10-Q for the fiscal quarter ended December 27, 2014 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.

NOTE TO EDITORS: For additional information visit Apple’s PR website (www.apple.com/pr), or call Apple’s Media Helpline at (408) 974-2042.

© 2015 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS, Macintosh, iPhone and App Store are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

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Comments

  1. Fallenjt JT - 9 years ago

    and the stock dropped~ $4? How the f this happened?

  2. Justin Fleming - 9 years ago

    Apple just had a mind-blowing quarter. To put it in perspective, $18 billion is the greatest profit earned by any company in a single quarter. Ever.

  3. Edison Wrzosek - 9 years ago

    I think I need to get me some Scotch :D

  4. Some perspective: Apple makes a device they sell for almost 1K, and more than 1% of the Earth’s population (74M) buys it, in just one quarter. Wow.

  5. Zac Hall - 9 years ago

    Clearly a lot of people bought both new iPhones

    • Edison Wrzosek - 9 years ago

      Since the launch of the 6’s, I’ve seen TONS of them in the wild, and only 3 Note 4’s since it’s launch. I rest my case.

    • nsxrebel - 9 years ago

      This is one the stupidest comments I keep reading on the internet, especially when the 6/+ debuted. Saying people bought both models to find out which one they prefer.

      • sircheese69 - 9 years ago

        The comment right above you is actually pretty stupid as well, I have seen 1 person with a 6.

  6. Bruce Bicknell - 9 years ago

    Umm, iTunes 4.7 million what? Songs? no. Dollars? no. Then what? Same with accessories.

  7. Wayne Tam - 9 years ago

    Picture is inaccurate because CVS doesn’t accept Apple Pay!!!

  8. Dan Wenzel - 9 years ago

    Where’s Apple’s repurchase to its shareholders this fiscal year 2015 like they did last year 2014, especially when Apple made 30% more in Revenues, 2% higher profit margins yet Apples not giving double 7/1 split to investors this April, 2015….Or is it that CEO Tim Cook only provided Investors the handsome split last year 7/1 stock split on April 9th & April 10th just to get listed on Dow and will never split shares with investors again regardless of huge Profit margins, revenue Growth Apple continues to enjoy.

Author

Avatar for Zac Hall Zac Hall

Zac covers Apple news, hosts the 9to5Mac Happy Hour podcast, and created SpaceExplored.com.