Apple reports record results: $54.5 billion revenue, $13.1 billion profit, $13.81 EPS

Apple today announced financial results for its 13-week fiscal 2013 first quarter ended December 29, 2012. The Company posted record quarterly revenue of $54.5 billion and record quarterly net profit of $13.1 billion, or $13.81 per diluted share. These results compare to revenue of $46.3 billion and net profit of $13.1 billion, or $13.87 per diluted share, in the 14-week year-ago quarter. Gross margin was 38.6% compared to 44.7% in the year-ago quarter. International sales accounted for 61%of the quarter’s revenue.

Average weekly revenue was $4.2 billion in the quarter compared to $3.3 billion in the year-ago quarter.

Apple sold a record 47.8 million iPhones in the quarter, compared to 37 million in the year-ago quarter. Apple also sold a record 22.9 million iPads during the quarter, compared to 15.4 million in the year-ago quarter. The Company sold 4.1 million Macs, compared to 5.2 million in the year-ago quarter. Apple sold 12.7 million iPods in the quarter, compared to 15.4 million in the year-ago quarter.

Apple’s Board of Directors has declared a cash dividend of $2.65 per share of the Company’s common stock. The dividend is payable on February 14, 2013, to shareholders of record as of the close of business on February 11, 2013.

“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, in the press release. “We’re very confident in our product pipeline as we continue to focus on innovation and making the best products in the world.”

“We’re pleased to have generated over $23 billion in cash flow from operations during the quarter,” said Peter Oppenheimer, Apple’s CFO, in the press release. “We established new all-time quarterly records for iPhone and iPad sales, significantly broadened our ecosystem, and generated Apple’s highest quarterly revenue ever.”

Apple is providing the following guidance for its fiscal 2013 second quarter:

• Revenue between $41 billion and $43 billion

• Gross margin between 37.5 percent and 38.5 percent

• Operating expenses between $3.8 billion and $3.9 billion

• Other income/(expense) of $350 million

• Tax rate of 26%

Analysts’ consensus called for revenue of $54.73 billion and EPS of $13.44 with iPhone unit sales of 48-50 million, iPad unit sales of 22-23 million, and Macintosh unit sales of 5 million. Analysts’ consensus called for guidance for Apple’s fiscal Q213 (March quarter) of $45.6 billion in revenue and EPS of $11.74.

MacDailyNews Take: This is sort of a mixed bag; beat on EPS, slight miss on revenue, but the all-important Q213 guidance does not meet with the analysts’ consensus revenue expectation, so AAPL shareholders should expect to see some near term pain.

UPDATE, 4:38pm EST: In after-hours trading shares of Apple Inc. (AAPL) are down $24.26, or -4.72%, to $489.75.

Related article:
MacDailyNews presents live notes from Apple’s Q113 Conference Call – January 23, 2013

71 Comments

    1. With AAPL, if it is good news, the pundits say that the price was ‘baked in’ already and the stock drops. If it is OK news, the pundits say that it wasn’t good enough and the stock drops. If the news is disappointing, the pundits say AAPL is doomed and the stock drops.

      What does Rodney Dangerfield and AAPL have in common?

    2. Funny. I guess everyone out there forgot the 30% drop was in anticipation of some bad news. A stabilization (at the least) or a rise (realistically) should have accompanied the news that rumours were 100% false.

      The market is unbelievably strange.

      We now have a $470 share price that’s made of about $200 cash, and $50 profit (from current quarter).

      So Apple is worth what? $220 a share when you back that out???

    1. Not terrible?

      What the hell are you looking at? Dell, Gateway, Microsoft…

      Please tell me in the above numbers, what sucks?

      What other tech company is making $13 BILLION profit a quarter?

      1. Goodness, you must be losing a lot of money in AAPL? I take it you didn’t get out at $700 like I did? Why? Sounds as though you didn’t have any downside protection? Oops! Next time you invest, learn what an earnings report is all about. Good luck.

        1. I’m talking about the quarterly results of Apple. Nothing about the stock. The stock price right now has less truth in it than Bill Clinton.

          Stay on subject.

          Once again: What other tech company is making $13 BILLION profit a quarter?

        2. What an arrogant, selfish response! People have lost money and are hurting and all you can think to do is pump yourself up. You’re an unfeeling jackass with ego problems.

          Me? I’m fine. Even at $477.50 I’m still ahead $470 per share, so it doesn’t bother me. And when your Netflix bubble bursts and the stock tanks, I sincerely hope you are caught with your pants down and somebody comes along to laugh in your face.

          1. Think made the rude ignorant comment Zeke. You can read can’t you? Read my comment and then his criticism. And sure, we all know that you bought it at $7.50 per-share Zeke. Riiiiiiight.

  1. CNBC is reporting disappointment, with commentators saying for Apple Stock to be positively affected, the iPhone number had to be north of 50 million. Unbelievable.

    1. Yep. They are going by the playbook.
      Someone on WS has it in big time for Apple and they are doing a coordinated effort to destroy Apple’s stock.

      No matter how good the news is. They will lie, cheat and steal.

    2. Yep, the iPhone numbers needed to be north of 50 million and the iPad numbers at least 25 million. Most notable was the significant drop in Mac sales. Nobody was saying they would drop all the way to 4.1 million units.

      As good of a quarter as they had overall, their unit sales numbers were actually disappointing all around unfortunately. This all just goes to show that expectations have gotten completely out of hand. In the meantime, the stock is going to take an absolute beating as a result.

      1. Actually, I’m surprised Apple sold 4.1 million Macs.

        For the most popular line you couldn’t even order the “current model” of the most popular line (iMacs) for over a third of the quarter — and for most of those orders they didn’t ship for couple more weeks or more. If Apple had iMacs available in quantity on the announcement date and was able to keep up with orders the they would have easily beaten the 5 million Mac number.

        Additionally, the Mac Pro is hopelessly out of date. No one is buying one unless they have a gun to their head (i.e., they have an absolutely hard requirement for a Mac Pro that they absolutely MUST fill). Since Cook’s announcement that an updated Mac Pro will surface in 2013 anyone who needs a Mac Pro that has any possibility of waiting until the new model ships is waiting. If the new Mac Pro were shipping in quantity in 2012 then that would have further enhanced the Mac sales.

        IF Apple had not had availability and supply constraints on the iMac and had a new Mac Pro then Apple’s total Mac sales for the quarter could easily have topped 6 million. Unfortunately for both Apple investors and Apple customers neither of these things happened.

  2. Oh no! With 1 week less in the quarter compared to last year, Apple beat all of the expectations and made more money than anyon else, but there margins dropped from 44% to 38%. That means Apple is doomed!!!

    I’m sure the analyst will find something wrong with this report, but the reality is, it’s a fantastic report..

    Netcruizer99

  3. Not the quarter everyone was hoping for – to add insult to injury you will be hearing all types of talking heads talking cheerfully of profits no growing YoY without reference to the 14 week period.

    If Apple doesn’t announce China Mobile sometime over this quarter (or other news of note), you can expect the media bashing to continue fast and furious. I’m long and it’s going to be a long quarter.

      1. What, listen to you?

        Go away. Apple has been breaking sales records and doing proper investments with that money.

        They have carefully bought up companies very quietly and done very well with them.

        Would you like them to spend their money like MS does with their craptastic purchases?

        1. Calm down boy. Sure you’re pissed off. But you don’t understand Apple and you certainly don’t understand investing. Go outside and sit in the oak tree for a couple of hours. That should make you feel better. As for all the money that you have lost through stupid investing practices…………

          1. Please tell me where I said I bought and/or lost Apple.

            You know what they say about assuming?

            I’m sorry, the subject was Apple and spending their money, right?
            Please go back to the previous post and tackle that piece of info.

            1. Share buyback would be a good move at this point. A dividend increase would be nice also. And you don’t have to tell everyone you lost money in AAPL. That’s obvious.

          2. Oh yes, you’re the one who sold one fantasy-investor share at $702. I remember hearing about that. Even on a fantasy basis, you dared not risk pretend-buying more than one share, right?
            Excellent man.

            1. No actually it was $700. And they weren’t shares they were calls. And they sure weren’t fantasy. And I have calls going into earnings today so I’m down on those. But I only have a few. And of course I had downside protection with a few puts also. I haven’t owned shares in nearly 2 years. They’re too expensive. Calls have much more upside at a much lower price. And it doesn’t hurt to buy puts once in a while just in case a stock tanks. Sort of like today.

            2. And I’ve owned a few thousand shares since June of 2004. Do the math , you putz. The only time I sell shares is when I need money for college, a house, or vacations. Happily retired now.

            3. Putz? Goodness, name calling? I guess I’d be pissed off too if I owned shares and they were down $250. Next time a stock reaches its all-time high Zeke, sell. That’s a strategy Zeke. Buy and hold forever is not a strategy. It’s not a plan Zeke it’s just praying and hoping. Nothing goes up forever Zeke. But of course you can see that. And I know that you understand that I’m right. And I understand that you just won’t admit it. Go ahead, argue in the face of logic. Next time pull the trigger Zeke. Good luck.

    1. Wow.
      It must be jealousy that these people are not working for Apple or that they didn’t think of these devises first.

      The sad thing is, these talking heads have no idea what they say. It’s pre-scripted and just fed to them via teleprompter.

      Who innovating better than Apple?

      No one.

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