Apple Posts Record Q1 Results, Shares Take a Tumble
Article by George Norman
On 24 Jan 2013
On Wednesday, Apple made public the financial results for its Q1 2013 which ended on December 29, 2012. Apple reported record results of $54.5 billion revenue and $13.1 billion profit. Despite this fact, Apple shares took a tumble.

On Tuesday it was Google who made public the financial results of the quarter that ended in December 2012. For its Q4 2012, Google reported consolidated revenues of $14.42 billion, a 36% increase compared to the previous year quarter.

On Wednesday, it was Apple’s turn to take the spotlight and present the results of the quarter that ended in December 2012. For its Q1 2013, Apple reported revenues of $54.4 billion and a profit of $13.1 billion (that’s $13.81 per diluted share). Apple also announced that in Q1 2013 it sold a total of 47.8 million iPhones, 22.9 million iPads, 4.1 million Macs, and 12.7 million iPods.

“We’re thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter,” said Apple CEO Tim Cook. “We’re very confident in our product pipeline as we continue to focus on innovation and making the best products in the world.”

Advertising

“We’re pleased to have generated over $23 billion in cash flow from operations during the quarter,” said Peter Oppenheimer, Apple’s CFO. “We established new all-time quarterly records for iPhone and iPad sales, significantly broadened our ecosystem, and generated Apple’s highest quarterly revenue ever.”

Even though Apple reported record quarterly results, its shares did not get a nice boost as numerous investors were expecting. Instead, the shares took a tumble – initially by 5% and later by 10%. Worries about slow growth, the fact that the financial results were weaker than what analysts expected, and the fact that investors were expecting Apple to sell more iPhones are the main reasons for the tumble.

In related Apple news, the Steve Jobs biopic starring Ashton Kutcher is said hit the theaters on April 19th.







Tags: Apple, Q1 2013, revenue, financial results, Google, Steve Jobs, Ashton Kutcher
About the author: George Norman
George is a news editor.
You can follow him on Google+, Facebook or Twitter

I Hope you LIKE this blog post! Thank you!
What do YOU have to say about this
blog comments powered by Disqus
Popular News
By George Norman on 17 Aug 2017
With the blockbuster movie season upon us, Sony decided to celebrate the occasion with a sale: the Attack of the Blockbusters Sale that offers discounts of up to 50% (60% if you’re a PlayStation Plus member) on a ton of PS4 video games.
By George Norman on 17 Aug 2017
Samsung’s new T5 portable solid-state drive (PSSD) uses the latest 64-layer V-NAND technology, offers between 250GB and 2TB of storage capacity, has a lightweight and shock-resistant design that’s smaller than the average business card, and delivers industry-leading transfer speeds of up to 540 MB/s.
Related News
By George Norman on 09 Aug 2017
Android started out as an underdog, as the mobile operating system that nobody took seriously. Big-name tech companies laughed it off and critics said it would fail miserably, but Android proved them all wrong and become the powerhouse that it is today.
By George Norman on 21 Jul 2017
Firefox Focus for Android, the ad-blocking browser that Mozilla rolled out back in June, has reached a very important milestone: 1 million downloads. To celebrate this joyous occasion, Mozilla decided to update the browser and add 3 features that people had been asking for.
By George Norman on 14 Aug 2017
Opera Max, the Android app that uses compression technology to help you save data and get up to 50% more from your data plan, has been discontinued. The app is no longer featured on Opera.com and it’s no longer listed on Google Play.
By George Norman on 28 Jul 2017
If you’re a big name famous person and Apple comes knocking at your door, you’re not going to say no. After all, we’ve seen celebrities use their star power to endorse technology time and time again.
Sponsored Links
Hot Software Updates
Top Downloads
Become A Fan!
Link To Us!
Apple Posts Record Q1 Results, Shares Take a Tumble
HTML Linking Code