Apple posted record quarterly revenue for its first quarter of the 2013 financial year, but profit remained flat.
Quarterly net profit matched that of the previous year, at $US13.1 billion (£8.3 billion) in the 13 week 2013 Q1, compared with $US13.1 billion in the 14 week year ago quarter.
Apple’s quarterly revenue was $US54.5 billion (£34.4 billion) compared with $US46.3 billion in the year ago quarter, which was one week longer than Q1 2013. That’s an average weekly revenue of $US4.2 billion in the quarter.
The company missed analyst expectations of £54.9 billion (£34.7 billion), and shares were down after the results were announced, The Guardian reported.
A bajillion (or several million) iPhones – but not as many as expected
Apple sold 47.8 million iPhones in the quarter, compared with 37 million in the year ago quarter, and 22.9 million iPads, compared with 15.4 million in Q1 2012.
This was below analyst expectations, which were that iPhone sales would break the 50 million mark.
The company’s Mac and iPod sales were down, with 4.1 million Macs sold, compared with 5.2 million in the year ago quarter, and 12.7 million iPods sold in the quarter compared with 15.4 million in the year ago quarter.
All of this means a cash dividend of $2.65 per share of common stock. That’s a lot of mojitos.
Apple chief executive Tim Cook said the company was “very confident” in its product pipeline as it continued to focus on innovation.
Apple chief financial officer Peter Oppenheimer said it was Apple’s highest quarterly revenue ever.
For the second quarter, the company’s guidance was more moderate than the results it achieved in Q1 – revenue between $US41 billion and $US43 billion (£25.9 billion and £27 billion), and operating expense between $US3.8 billion and $US3.9 billion (£2.4 billion and £2.5 billion).