Apple reports record-breaking quarterly revenue of $54.5B and $13.1B in profit for Q1 2013
In a record-breaking quarter, Apple announced today it has sold 47.8 million iPhones, 22.9 million iPads and 12.7 million iPods, breaking sales records for both iPhone and iPad and iPad and have sold half a billion iOS devices to date. Overall, the company reported $54.5 billion in revenue, good for net profits of $13.1 billion during Q1 2013.
Overall, revenues were up 51.4 percent over the previous quarter’s sales of $36.0 billion, and 17.7 percent year-over-year. Net profit was $13.1 billion for Q1 2013, the same net profit a year ago at $13.1 billion. Keep in mind that Q1 2012 results included 14 weeks of sales while Q1 2013 only had 13. Earnings were $13.81 per share.
Overall, Apple sold 83.4 million iOS devices during the quarter, up from Q4 2012 when the company sold 46.2 million iOS devices. iPhone sales were up 77.7 percent from Q4’s numbers, spurred on by the holiday surge. iPhone sales were also up 29.1 percent over the same time a year ago.
iPad sales were up 63.6 percent quarter-over-quarter and 48.7 percent year over year. iPod sales declined year-over-year, falling 17.5 percent from the same time a year ago.
Although Apple wouldn’t detail a breakdown in sales between the iPad and iPad Mini, Apple CEO Tim Cook said “for last quarter, we had strong sales for iPad and iPad Mini.”
These figures were slightly below the median estimate among 65 analysts of $55.96 billion in revenue, according to a survey from Fortune’s Philip Elmer-DeWitt.
The company’s gross margin for the quarter was 38.6 percent, down from Q1 2012’s 44.7 percent and Q4 2012’s 40 percent.
Apple generated more than $23 billion in cash flow this quarter, and it now has $137.1 billion in cash and short-term and long-term marketable securities.
On Sept. 19, 2012, Apple stock reached an all-time high at $702.10, since then, the stock had dropped below $500 at $485.92 on Jan. 15. Apple’s stock closed today at $514.01 a share. However in after-hours trading, shares dropped more than 10 percent to $459.95 a share.