FORTUNE -- The numbers are in, and they're surprisingly good. Stronger than expected iPhone sales seem to have boosted both the gross margin and the bottom line. iPad sales were a little weak, due largely to channel inventory changes. Mac sales were up and the iPod business, as expected, has pretty much collapsed. Apple press release.
In a separate press release, the company announced a 7 for 1 stock split, effective June 2, something that doesn't change the math but which should make the stock affordable for more investors. The board of directors also increased its share repurchase authorization to $90 billion (from $60 billion) and declared a dividend of $3.29 per common share, an increase of about 8%, payable on May 15.
"We're very proud of our quarterly results, especially our strong iPhone sales and record revenue from services," said Tim Cook. "We're eagerly looking forward to introducing more new products and services that only Apple could bring to market."
"We generated $13.5 billion in cash flow from operations and returned almost $21 billion in cash to shareholders through dividends and share repurchases during the March quarter," said outgoing CFO Peter Oppenheimer. "That brings cumulative payments under our capital return program to $66 billion."
Apple's (AAPL) share closed Wednesday at $524.75. They popped more than $40 in after hours trading.
A conference call with analysts is scheduled to begin at 5:00 p.m. ET, 3:00 p.m. PT. Click here: Listen to the Webcast.
Below: the average estimates of 41 analysts in Fortune's poll.
Sales: $43.78 billion
iPhones: 38.25 million units
iPads: 19.35 million
Macs: 4.09 million
iPods: 3.06 million
iTunes, software and services: $4.56 billion
Accessories: $1.40 billion
Gross margin: 37.8%
Below: Notes from the conference call.
Estimates range from $4 billion to nearly $5 billion, but growth continues to slow.
FORTUNE -- Apple's (AAPL) No. 4 revenue stream -- after the iPhone, iPad and Mac -- is a line item the company calls iTunes, Software and Services.
The category is something of a hodgepodge -- a grab bag where the company tosses, to quote from a footnote in its SEC filings, "revenue generated by sales on the iTunes Store, the App Store, the Mac App Store and the iBookstore, plus revenue from sales MOREPhilip Elmer-DeWitt - Apr 20, 2014 2:29 AM ET
Wells Fargo's Maynard Um forecasts that Apple's GM could reach 40% by March.
FORTUNE -- For Fortune's 20th consecutive Apple (AAPL) Earnings Smackdown, we've started to collect estimates for fiscal Q4 2013 from our roster of professional and amateur analysts. The actual results are coming later than usual this year; Apple's fiscal 2013 ended on Saturday Sept. 28., and the results won't be known until Monday Oct. 28.
In the numbers we've seen so far, MOREPhilip Elmer-DeWitt - Oct 8, 2013 10:32 AM ET
The forecasts range from 21 million to 32.3 million. Median estimate: 27 million.
FORTUNE -- How well Wall Street receives Apple's (AAPL) quarterly earnings these days depends almost entirely on the iPhone.
In a good quarter -- like fiscal Q2 2012, when Apple sold 35 million iPhones -- the device will account for nearly 60% of the company's total revenue. In a bad quarter -- like Q3, when the 26 million units MOREPhilip Elmer-DeWitt - Oct 17, 2012 11:16 AM ET
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