Thursday, January 24, 2013

Apple's Q1 Stats; Record Breaking Revenue

In Q1, ending on Dec 29, Apple sold 47.8 million iPhones, up from 37 million a year ago. In addition, Apple sold 22.9 million iPads during the period, up from 15.4 million last year.

Apple sold 4.1 million Macs during the period, down from 5.2 million last year; and 12.7 million iPods, compared to 15.2 million this quarter a year ago.

Overall, Apple posted record quarterly revenue of $54.5 billion and a record quarterly net profit of $13.1 billion.

Average weekly revenue hit $4.2 billion, compared to $3.3 billion a year ago. On a final note; international market sales made up 61 percent of Apple's quarterly revenue.

While the iPhone maker reported record results for its first quarter, Apple posted its slowest profit growth since 2003 and its weakest sales increase in 14 quarters in the face of higher costs and rising competition.

Apple shares subsequently dropped eight per cent in Germany and as much as 11 per cent in late New York trading.

"People are concerned about how quickly sales are falling off after the initial product launches and whether the company can deliver new and interesting products to reignite growth," said Walter Piecyk, co-head of research at BTIG LLC in New York.

The decline in Apple's shares since they hit a record high of $700 in September has seen its market capitalisation fall by $175 billion, and the firm is now in danger of losing its status as the world's most valuable company to oil and gas corporation Exxon Mobil. At the close in New York last night, Apple shares stood at $514.01, giving the firm a market value of $482.7 billion, compared with Exxon's $413.5 billion.

-Daniel, Jedi Editor


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