Apple Posts Record iPhone and iPad Sales, Weak on Mac Sales

Steve Jobs holding a Mac Book AirApple Inc. (NASDAQ: AAPL) has reported its first fiscal quarter earnings for 2013 and the consumer electronics giant turned in results of $13.81 in earnings per share on $54.5 billion in revenue. Thomson Reuters had the consensus forecasts at $13.44 earnings per share and a gain of 18% in sales to $54.73 billion. Apple generated over $23 billion in cash flow from operations during the quarter and it now has close to $137 billion in cash and equivalents.

The world's largest company by market cap sold a record 47.8 million iPhones in the quarter versus 37 million in the year-ago quarter and it sold a record 22.9 million iPads versus 15.4 million a year ago. The company sold only 4.1 million Macs, which is down from 5.2 million a year earlier. Apple sold 12.7 million iPods versus 15.4 million in the year-ago quarter. Gross margin came in 38.6% versus 44.7% in the year-ago quarter. International sales now account for 61% of the quarter's revenue.

For the current quarter's guidance, revenue is projected to be $41 to $43 billion and gross margin is put between a range of 37.5 percent and 38.5 percent. Thomson Reuters has a consensus grouping of $11.70 EPS and $45.63 billion in revenue.

Apple shares closed up 1.8% at $514.01 against a 52-week range of $443.14 to $705.07 and that compares to a pre-earnings consensus analyst price target of $709.60 for the stock. Shares are trading down close to 5.5% at $487 to $488 in the after-hours session.

Filed under: 24/7 Wall St. Wire, Consumer Electronics, Earnings, Technology, Technology Companies Tagged: AAPL, featured
Read Full Story


DJIA 24,462.94 -201.95 -0.82%
NASDAQ 7,146.13 -91.93 -1.27%
S&P 500 2,670.14 -22.99 -0.85%
NIKKEI 225 22,162.24 -28.94 -0.13%
HANG SENG 30,418.33 -290.11 -0.94%
DAX 12,540.50 -26.92 -0.21%
USD (per EUR) 1.23 0.00 -0.23%
USD (per CHF) 0.97 0.00 0.09%
JPY (per USD) 107.80 0.19 0.18%
GBP (per USD) 1.40 0.00 0.01%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.