Apple Inc. announced unaudited consolidated earnings results for the first quarter ended December 27, 2014. For the quarter, the company reported net sales of $74,599 million against $57,594 million a year ago. Operating income was $24,246 million against $17,463 million a year ago. Income before provision for income taxes was $24,416 million against $17,709 million a year ago. Net income was $18,024 million or $3.06 diluted per share against $13,072 million or $2.07 diluted per share a year ago. Cash generated by operating activities was $33,722 million against $22,670 million a year ago. Payments for acquisition of property, plant and equipment was $3,217 million against $1,985 million a year ago. Payments for acquisition of intangible assets were $48 million against $59 million a year ago. Profit had soared to a record high on the back of unprecedented iPhone sales.

For the second quarter, the company expects revenue to be between $52 billion and $55 billion compared to $45.6 billion in the year-ago quarter. And this represents a very significant revenue increase despite growing foreign exchange headwinds from the continued strengthening of the U.S. dollar against most currencies. The company expects gross margin to be between 38.5% and 39.5%, OpEx to be between $5.4 billion and $5.5 billion, and expects the tax rate to be about 26.3%.

The board of directors has declared a cash dividend of $0.47 per share of the company's common stock. The dividend is payable on February 12, 2015, to shareholders of record as of the close of business on February 9, 2015.