Today Apple announced its earnings for the first fiscal quarter of 2014. The company posted a revenue of $57.6 billion and a net quarterly profit of $13.1 billion.
Gross margin was 37.9 percent compared to 38.6 percent in the year-ago quarter, with international sales accounting for 63 percent of revenue. Analysts had estimated Apple would ship around 55 million iPhones in the holiday quarter, but they came up short at 51 million.
Apple's CEO Tim Cook said:
“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. 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.”
iPhone sales are up from 47.8 million year-over-year and the company announced it has sold 472.3 million smartphones in total.