According to Apple CEO Tim Cook, the recently concluded fiscal year 2014 for the company was "one for the record books."
The company reported an increase in net profit of 12.7 percent to $8.5 billion for the quarter that ended Sept. 27. Revenue, on the other hand, increased by 12.4 percent to $42.1 billion.
For Apple's full fiscal year, the company reported revenues amounting to $182.8 billion, which is an increase of 7 percent compared to the previous fiscal year. The profit for the fiscal year was reported to be $39.5 billion, which is a 6.76 percent increase compared to last year's $37 billion profit.
Apple finished off the last quarter of its fiscal year 2014 with strong sales figures for iPhones and Macs. Apple was able to sell 39.3 million units of the iPhone for the quarter, which represents an increase of 16 percent compared to the same period last year. The figure is made more impressive considering that Apple only started shipping the iPhone 6 and iPhone 6 Plus on Sept. 19.
An unexpected bright spot for Apple is the sales for its Mac computers, which increased by 21 percent to 5.5 million units sold in the quarter. The increase is surprising because of the softness of the personal computer industry in general, which has Cook calling the results as "absolutely stunning." Cook added that the market share for the Mac computers is at its highest since 1995.
However, as sales for iPhones and Macs, sales for other Apple products struggled. Sales for the iPad tablets decreased for the third straight quarter, selling only 12.3 million units in the quarter. The figure represents a 13 percent decline compared to the same quarter in 2013.
Cook, however, advised analysts not to be concerned about the quarterly sales for the iPad. Cook said that he didn't think that the market for the iPad is already saturated as it was possible that sales for the device was being cannibalized by Apple's other products. Cook also mentioned the slower cycle for upgrading tablets as a possible cause for the sales slowdown.
"To me, I view it as a speed bump, not a huge issue," said Cook. "That said, we want to grow. We don't like negative numbers."
The weakest category for the company, however, was the iPod, which had sales figures decrease by 24 percent to only 2.6 million units sold for the quarter. Apple has announced that it will be bundling sales figures for the iPod among its "other products" category starting the first quarter of fiscal year 2015.
Apple does not release specific sales figures for items listed in the "other products" category, which includes accessories. However, Apple is drawing criticism as it has decided to also include the recently launched Apple Watch in the category, as analysts and investors prefer more transparency with the performance of the new device.
