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Apple earnings: Revenue, sales hit record

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Apple Inc. CEO Tim Cook (L) and China Mobile's Chairman Xi Guohua are silhouetted in front of an advertisement board of the iPhone 5s and C at an event celebrating the launch of Apple's iPhone on China Mobile's network at a China Mobile shop in Beijing January 17, 2014. REUTERS/Kim Kyung-Hoon

Apple shook off lingering doubts over weakening growth for its mobile devices and computers with record iPhone, iPad and Mac sales powering all-time high quarterly revenues.

For the three months ending December, the company booked a record US$57.6 billion in revenue, $13.1 billion in profit and $14.50 in earnings per share. The results came in above analyst consensus of $57.46 billion in revenue and $14.09 EPS, and were toward the upper range of Apple’s initial guidance of between $55 billion and $58 billion.

The company sold 51 million iPhones – up from 47.8 million in Q1 2013 – and 26 million iPads in the quarter, compared to the 22.9 million sold during the year-ago period. While the iPhone numbers were below consensus of 54.6 million, iPad sales exceeded pre-reporting estimates of 24.9 million. Mac sales of 4.8 million topped the year-ago quarter’s 4.1 million, and all figures were all-time quarterly records for the company.

The company’s board declared a $3.05 per share cash dividend.

More to come ...