Apple Inc.’s “fiscal first quarter marks the first full period to include sales of the iPhone 5, which launched in September. The company, which doesn’t break out sales by models, sold a record 47.8 million iPhone smartphones in the latest period, up 29% from a year earlier,” Nathalie Tadena reports for The Wall Street Journal. “Apple also sold a record 22.9 million iPad touchscreen tablet computers in the most recent quarter, a 49% year-over-year increase.”
“For the quarter ended Dec. 29, Apple reported a profit of $13.08 billion, up 0.1% from $13.06 billion a year earlier [and the most profitable quarter for any tech company in history, narrowly edging out Apple’s own $13.06 billion record set in the same quarter last year]. On a per-share basis, earnings fell to $13.81 a share from $13.87 a share as the latest period had slightly more shares outstanding. Revenue jumped 18% to $54.5 billion,” Tadena reports. “In October, the company predicted earnings of about $11.75 a share on revenue of about $52 billion. Analysts most recently projected $13.47 share and $54.73 billion, respectively.”
Tadena reports, “Shares fell 10.4% to $460.66 after hours. The stock, which reached an 11-month low last week following reports that Apple cut production for the iPhone for the current quarter, has fallen 16% over the past three months.”
Read more in the full article here.
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