Apple has just announced its Q1 2014 results with record iPhone sales touching 51 million units and iPad sales clocking at 26 million units and 4.8 million Macs. This is the best ever quarter Apple has had but it is far below analyst expectations of around 56 million iPhones. The stock is down 5 percent at the time of filing the story. Apple posted record quarterly revenue of $57.6 billion and quarterly net profit of $13.1 billion.
- revenue between $42 billion and $44 billion
- gross margin between 37 percent and 38 percent
- operating expenses between $4.3 billion and $4.4 billion
- other income/(expense) of $200 million
- tax rate of 26.2 percent