Apple broke its own mold earlier this year when it launched two new versions of the iPhone in a single event, so it’s not surprising that iPhone sales are at the forefront its Q4 earnings report. During its quarterly earnings conference call, Apple announced that it had sold a record 33.8 million iPhones in Q4 2013, up from the 26.9 million units it sold last quarter.
However, that hasn’t stopped investors from getting cold feet. At the time of writing, Apple’s after hours trading was down by 2.09 percent following Apple’s conference call.
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Still, the iPhone continues to be Apple’s biggest cash cow as the 2013 fiscal year comes to a close. Apple reported that iPhone sales accounted for $19.5 billion of its $37.5 billion total revenue--meaning that the iPhone accounts for about half of the company’s revenue.
This is a trend that’s been occurring over the past few quarters, with the iPhone claiming 18.2 billion of Apple’s overall $35.3 billion total revenue in Q3 2013. As you’ll notice in the chart below, the case is similar for the four consecutive previous quarters.
Apple’s $37.5 billion in overall revenue is slightly up from last quarter’s earnings results ($35.3 billion in revenue) and the same time period one year ago ($36 billion in revenue). However, that number is expected to skyrocket in the first quarter of 2014.
The revenue projection for the first fiscal quarter is said to land between $55 billion and $58 billion, which could outpace the $54.5 billion in revenue it recorded after Q1 2013. This is largely due to the expectation that Apple will pump out mass quantities of its iPad Air, iPhone 5c and iPhone 5s following the holiday season.
As for the iPad, sales didn’t budge too much when compared to the same time period last year. Apple reported 14.1 million iPad units sold during Q4 2013 compared to the 14 million it sold in Q4 2012. This isn’t surprising, however, considering anticipation had been building for Apple’s new fifth-generation iPad Air and iPad Mini with Retina Display over the past several months.
Apple’s numbers are in line with what analysts had predicted, and in some cases exceeded expectations. The Wall Street Journal reported that experts said Apple would earn $36.9 billion in revenue, and CNN Money’s spreadsheet of analyst projections averaged 33 million iPhone units sold.