As expected Apple has announced their Q1 earnings for 2015. The results are more than anyone saw coming. They sold over 74.5 million iPhones, 21.4 million iPads and 5.5 million Macs in just one quarter. What that comes to in hard cash is $74.6 billion in revenue. In case you are wondering, yes that was a record quarter for revenue. The net profit came to $18 billion. Gross margin was up 39.9% compared to 37.9% in the year-ago quarter. The most remarkable thing about this quarter was not the amount of devices sold. It was the fact that international sales accounted for 65% of the quarter’s revenue.

“We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high. 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.” ~Tim Cook, Apple’s CEO

Apple’s guidance for 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

“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. 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.” ~Luca Maestri, Apple’s CFO