Apple’s Q1 results: record 51M iPhones sold, dividend approved

Apple posted their first quarter results: iPhone sales hit a new record high for any single quarter.

The company sold 51 million iPhones, compared to 47.8 million in the year-ago quarter. Apple sold 26 million iPads during the quarter, another all-time quarterly record, compared to 22.9 million in the year-ago quarter. The company also sold 4.8 million Macs, compared to 4.1 million in the year-ago quarter.

According to Apple, the iPhone 5S sold better than they expected and demand for more 5S’s won’t be met until the end of next quarter.   Additionally, the board of directors approved a cash dividend.  The dividend will be $3.05 per share.  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, 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.”

“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, Apple’s CFO.

It has been another great quarter for Apple in light of struggles to meet the demand for iPhones.  Just imagine what iPhone 5S revenue will look like as sales open up in China. Some blogs are down on Apple because they can’t keep up with demand – those bloggers need to get a clue.