Apple Posts Record iPhone Sales And Revenue In Q1 2013 Earnings Report


Apple has announced its highest-ever quarterly profit and revenue results - but analysts remain unimpressed.

The company said it made $54.5 billion in revenue for the first quarter of the 2013 financial year, which is its best ever result.

It also said it sold 47.8 million iPhones - again a record - and took $13.1 billion in net profit for the quarter.

While profits for the quarter were flat compared to 2012, its average weekly revenue was $4.2 billion compared to $3.3 billion.

Apple added it sold a record 22.9 million iPads compared to 15.4 million in the year ago quarter, while iPod sales continued to decline - down to 12.7 million versus 15.4 million a year ago.

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

But despite the multiple records, analysts said they were not impressed.

Apple did post falls in Mac sales, despite the release of a line of new iMacs - which may worry the company as customers continue to flock to cheaper mobile devices like the iPad, cutting into profits.

Business Insider added investors should be "super worried" because the market had expected sales of at least 50 million iPhones - though why they expected that specific number remained relatively unclear.

It was also recorded that the company missed analysts gross margin target - 38.6% versus 39.5%.

But the company also has a resilient side - in particular its giant pile of cash, which currently totals more than $137 billion, approaching a third of its total value.

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