Following on from last week’s expectations-defying earnings call, Apple has filed its annual 10-K report with the U.S. Securities and Exchange Commission, indicating just how rosy things are looking in Cupertino.
Net iPhone sales up up by 12%, with global earnings of $102 billion in 2014 versus $91 billion last year. iMac sales are up by the same 12%, too, with 24 million units sold this year compared to 21.5 million in 2013.
The iTunes Store is doing its bit as well, with a total of $10.2 billion in net sales, up from $9.3 billion in 2013. Apple says that app sales are up, but also acknowledges that this increase is partially offset by a decline in digital music sales.
Apple now has 92,600 full-time equivalent employees, which is an increase from the 80,300 who were on the books at the end of 2013. Apple opened 21 new retail stores during fiscal 2014, and average revenue per store increased slightly from $50.2 million to $50.6 million. Apple now has 13.6 million square feet of leased building space, with Apple Stores making up 4.9 million square feet of these.
As expected, Apple R&D saw a massive hike in 2014, creating what Eddy Cue has called the most exciting product pipeline Apple has seen in 25 years. In total Apple spent $6 billion on research and development, which is up from the $4.5 billion spent in 2013. BTIG Research analyst Walt Piecyk previously noted that this is Apple’s highest percentage spend on R&D since 2006, the year before the iPhone’s release.
It’s not all good news, of course. Net sales of the iPad fell by 5%, while the iPod plummeted by a massive 48% from last year to just 2.2 million units this year. Apple finally killed off the iPod Classic back in September.
Overall, though, things couldn’t be much better for Apple. And it’s not showing any signs of slowing down, either. Buoyed by the massive international demand for the iPhone 6 and 6 Plus, in addition to the arrival of new product categories and a likely 12-inch iPad, next year looks set to be even better.
