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Apple fiscal Q1 2013 earnings: $54.5 billion revenue, $13.1 billion profit, 47.8 million iPhones sold

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Apple’s fiscal Q1 2013 earnings are in for the quarter ending December 29th, 2012, and the numbers are huge, as expected.

The company posted revenues of $54.5 billion USD and net profit of $13.1 billion. These numbers are up from $46.3 billion and net profit of $13.1 billion this quarter a year ago, but the Q1 2012 quarter had an extra week in it.

Apple sold 47.8 million iPhones and 22.9 million iPads, up 10.8 million and 7.5 million respectively from the same quarter a year ago. While the market was expecting results north of 50 million iPhones sold, Q1 2013 works out to be the company’s best revenue quarter in history. Its earnings per share was $13.81 diluted, which is above street estimates but, despite coming in at record numbers its revenue forecast fell short. This has led to some initial selloff in after-hours trading, but the stock should correct in the coming days.

Apple doesn’t break down its iPhone and iPad sales based on numbers, but it’s speculated that the massive increase in iPad sales was due to excellent iPad mini numbers, which carry a lower price tag and a slightly smaller gross margin per unit. The company’s overall gross margin dropped from 44.7% to 38.6%, likely due to steady sales of its iPhone 4 and 4S models, which sell at huge discounts on most carriers.

The company has increased its quarterly dividend to $2.65/share, and have declared that they have $123 billion in cash and liquid assets. The company’s CFO, Peter Oppenheimer stated in a press release, “We’re pleased to have generated over $23 billion in cash flow from operations during the quarter. We established new all-time quarterly records for iPhone and iPad sales, significantly broadened our ecosystem, and generated Apple’s highest quarterly revenue ever.” It’s interesting to note that the iPhone made up 55% of Apple’s entire revenue in Q1, up from just over 50% a year ago.

Based on projected earnings, the company expects to earn between $41 billion and $43 billion in fiscal Q2 2013.

Via: Businesswire

(Image courtesy of Flickr user luisvilla)

  • Hilman

    Interesting that they had the same profit on $8 billion more in sales, I am guessing that $8 billion went to their law team lol. I wonder how many were actually iP5′s and how many were iP4 or iP4S’s, I’m thinking around 50/50.

    • alcazar jones

      RIM will be all over this, Apple is in its death throes!

    • Mexico Ron

      They only thing that has kept them going this long is big sales numbers and even bigger margins. Now that those are both declining the end is near. They might have bigger margins and higher profits than Samsung today, but Samsung is diversified and can afford to lower margins as long as they ship boatloads of phones. Samsung can afford to cushion lower margin with higher unit sales. If Apple’s unit sales decline _and_ their margins decline, they are going to fall like a rock.

      Then all those sheep that keep saying that only Apple makes money will look foolish. Soon they will be in the same boat as everyone else, begging for sales.

  • kenypowa

    Well, basically it means Apple makes $605 million dollars every single day, $25 million every hour, and in the last minute when I typed it out they made another $420,000. Mindblowing numbers.

    That said, they still can’t make a map app that doesn’t suck outside of North America.

    • Rio

      Give it time, Google has been in the mapping business quiet a while now where as Apple just started.

    • Brad F(anboy)

      I don’t know why people are downvoting Rio when he’s right.

      Apple’s been doing maps for 4 *months*. Google’s been doing maps for 8 *years*.

      These things take time, people.

    • phreezerburn

      Brad, the down voting is because to any company time is “man-hours” and not calendar years. I’ve seen mining equipment go from a blank page at the drafting table to completely debugged working machinery in the hands of customers in 6 months as compared to the year+ it would have taken under traditional resource allocation at that same facility. It happen the same way in business throughout the globe from Monsanto to Microsoft. Apple has 100+ Billion stashed from the US Taxman within their financial arm’s hedge fund and the man-hours to make the best map application on the planet are an R&D write off. They don’t have an excuse available to them.

  • Comment Master

    Good this would be last profit quarter for apple…let them celebrate..

    • bobblehead

      They won’t celebrate. Their stock is down over $50 in AHT.

      They beat or come in at the streets numbers and there is a sell-off.

      Google misses their numbers and the stock rallies $75.

      I’m not sure I get it.

    • Mexico Ron

      Exactly bro!!! I’ve been saying the same thing for like 10 years now.

    • Brad F(anboy)

      @CommentMaster What scares me the most is how people like you don’t realize how ridiculous you sound.

      “The iPod is a fad, Apple is doomed!” Nope.

      “They need to make a netbook or Apple is doomed!” Nope.

      “The iPhone will never sell, Apple is doomed!” Nope.

      “The iPad is just a big iPhone, Apple is doomed!” Nope.

      “Apple’s making record revenue and profit, Apple is doomed!” GROW UP.

    • BB

      no offence apple fans, but just because you pay top $ for a product doesn’t mean its the best. I hate when people think that…and yes bravo apple makes a ton, but the people who made them rich deserve the pat on the back…and maybe a few thousand they spent back…oh wait you’ll never see that money again. keep bragging. SG3 and bb10 = better phone, better price

    • phreezerburn

      The volatility comes from Apple’s having released their flagship product to what is actually a lukewarm reception. The initial sales themselves of the iPhone 5 were preorders. You people do realize Apple puts it to each carrier with the “availability” being vague at least a year before the release and the carrier buys on speculation? No? Thought not seeing as how too many here speak as though sales figures are “end user”.

      Think of it this way, Apple’s share price has a component that is future market share, a forecast of sales yet unrealized. When they fail to meet those expectations adjustments are made to future forecasts based upon the unrealized growth that was forecast and the stock price is adjusted by the market accordingly. Currently APPL is 940+ million outstanding shares which holds a promised return of roughly $470,000,000,000 at current market value to the share holders or nearly 4x the retained earnings held within their financial arm’s hedge fund + fixed assets. At $707 that was 6x.

  • MapleHamwich

    Yeah, when you over charge for your products, you make a crap ton of money.

    • placator

      Don’t think HP did with their touchpad!

    • Mexico Ron

      That’s right. Kindle and Nexus prove that is you sell at a loss, you will sell almost as many.

    • Brad F(anboy)

      @MapleHamwich If someone thinks something is overpriced, they won’t buy it. That’s how sales work.

      Meanwhile there’s $54.4 billion that says that Apple’s products are *not* overpriced.

    • phreezerburn

      When you don’t pay a dividend nor very much in the way of taxes, you retain your earnings. It’s why APPL’s financial arm is in Nevada and NOT California.

  • Dave

    The amount of things i could do with just 1% of the mouney

  • theone

    they might be over charging but the public is buying its supply and demand my friend

    Apple is going to take a beating tomorrow but they will rebound no problem they still had a huge huge Q1 they missed the target by just over 300 Million.

    Its going to be interesting tomorrow

    this might help RIM more…..

  • theone

    On the side note waiting to see how many Iphone 5s sold

  • Sam

    Not enough to stop them from ripping people off with defective Retina MacBook pro’s. They all seem to have screen issues and they’re knowingly selling them AND then telling people the way they’re looking at the screen and other nonsense. Not only that, they created a fake test to convince people that there broken screens are ok.

  • mendozer

    On a side note, I just finished reading the Steve Jobs bio, and I must say, I have a slightly higher respect towards Apple and Jobs. If I could compare young Steve to anyone right now, it would be Charlie Sheen (lol).

  • rufusy

    Ohhh bad news for than. Stock down. Hopefully the ppl droping aapl are going to be putting that money into rimm

  • jonny

    wow, that is a LOT of suckers. seriously.

  • Josh

    I thought apple died no?

    Still breathing? Kill em!

  • rufusy

    RIP Apple… We can start that up now right?

  • Joseph Z

    Yep, Apple’s stock is diving as we speak!

    Apple Inc.NASDAQ: AAPL – 23 Jan 5:49pm ET514.01+9.24‎ (1.83%‎)
    After Hours: 460.56-53.45‎ (-10.40%‎)

    • Keith

      It’s an epic after hours sell off. Apple’s market cap has dropped about 50 billion just from after hours selling!

    • omar

      wait so why did stock price fell?

    • Keith

      @omar,

      Even though Apple just had its umpteenth amazing quarter, investors already had totally amazing quarters priced into the stock. Though I’m a bit surprised at the extent of the sell-off this evening. It will be interesting to see what tomorrow’s normal trading day does brings–it could go either way but I wouldn’t be surprised if it bounces up from what will be a bad opening.

  • theone

    its short term they will rebound its normal for shares to go down 10-15% when missing earnings there revenue was one of the highest in usa history so by end of the week they will recover when smart investors read the full report they will buy again

    • BB

      Smart…you mean rich…as most of the world can’t even afford to buy the phone. This is a rich man game with a few suckers trying to follow the trend. They made a good product, but others offer for cheaper and better.

  • theone

    to keith’s point

    this is all rush after hour trading, basically traders trading just based of the the fact apple did not meet the Wall-street expectations

    that being said

    this is one of the best quarters yet and net revenue was up from last year so once the dust settles investors will start buying again and it will undo the after hour trading lost

    at least thats how it should go lol

  • Sweet

    Looks like an impulsive selloff to me, resulting in a a good buying opportunity for those who believe in the company.

    Their flagship product, which now accounts for 55% of the company’s revenue, had a couple of serious problems, and in the eyes of many, lacked innovation, in a market where people are expecting lots of significant innovation every release. So, these financial numbers are much better than I expected.

    However, Apple has to work on resolving their manufacturing and supply issues — long line ups and waiting lists are cute at first, but customers will only tolerate them for so long before they get fed up and jump ship — and start putting more of their innovations into their products. They do lots of research and come up with lots of really cool innovations, but they haven’t been putting much of those innovations into their products lately, and what they have been putting in, has been in the manufacturing and form-factor which lack the razzle-dazzle people are expecting and are attracted to.

  • AAPLNOSEDIVING

    Apple does not make or manufacture any of their product, instead they rely heavily on outsourcing. Burned their bridge with a key supplier, heavy reliance on azn slave labour. Overpriced product with the need for an ignorant consumer base to back and prop their product. NO INNOVATION, Lawsuit after lawsuit to hinder competitions innovations as their own(rounded corners). A viable competitor thats putting a massive dent in market share. A need for a new chip supplier with a foundry large enough to meat their demands. And you wonder why their stock is dropping. “It doesn’t take a genius” EG: Since the release of the iphone5, 2 critical things happened. Galaxy s3 sales soar, Appple stock plummits. Enough said. 

  • theone

    For once this was a some what intelligent post and some one just had to come and most something stupid

    Mobilesyrup i ask you no i beg have a IQ test or something before people are allowed to post on here lol

    people that don’t understand economics or business in general should not be able to post in a article that has to with finance and stock etc… lol just saying

    it was good while the intelligent post lasted

    • Applestockholderhurt?

      So, since you sound like the self proclaimed genius on this site and qaulified to make judgement. What facts did he make that weren’t factual. Sound like alot of butt hurt Apple stock holders here. Simple fact is APPL is nose diving for a lack of a better term whether you like it or not.

    • Applestockholderhurt?

      So your the self proclaimed genius I see all the time on the web. Good to know your “THE ONE”. And what part wasn’t factual or not to your liking genius.

  • S_Hanson

    Baa baa iSheep.

  • darylscool

    @AAPLNOSEDIVING: Who is going to take you seriously with your terrible English? “azn” and “meat” not to mention all the grammar mistakes.

    • Applestockholderhurt?

      So we should take you seriously then. And for what? Being an spelling and grammar genius.

  • Jeremy

    He is not writing an essay. He is commenting on a post where most responses are just stupidity anyways. Im assuming most of these posts are being done from smartphones which over auto correct and cause mistakes. Especially when your just typing out a quick message and pressing enter. These things are normally noticed later and its just like… oh sh*t.

  • darylscool

    @Jeremy: Regardless, credibility flies out the window.

    • Applestockholderhurt?

      So what makes you so credible on a website about mobile technology. Your the resident genius I guess with an infallible opinion. Get off you high horse.

  • darylscool

    You mean “you’re”. Once again, you have terrible grammar. Go back to grade school before you attempt to talk about finance, please.

    Read what you wrote. You blamed the nosedive on “NO INNOVATION” and “azn slave labour”. You also called it an “Overpriced product”.

    The simple fact is that at today’s stock price ($447) Apple shares are trading at roughly 10 P/E ratio, have 130B in cash reserves, have $0 debt, and reported earnings of $13B in 13 weeks. The Industry growth rate is 15%, while Apple is expected to grow at 70%. The Industry PEG ratio is 3.5, while Apple is at 0.57. Name me another company that comes close to this. There is no other.

    To answer your ignorant statements:
    How can a company have no innovation, when it created the tablet market?

    Where do you think your beloved Samsung makes their phones? North America? keep dreaming.

    And the market dictates fair prices. If it were overpriced, it wouldn’t have sold over 47 million iPhones last quarter alone.

    It’s clear that negative percetion of the media and uninformed investors are driving the sell off. All statistics point to Apple stock being at least 20% undervalued.

    So next time, think before you spew off on things you have no grasp of, before you make yourself look foolish again.

    Disclosure: I own a GS3, but you’ve got to realize that the market will correct itself and Apple stock will rebound. It’s just way too undervalued not to.

  • darylscool

    foolish people going to be foolish people

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