Apple reports record revenue but Wall St unhappy with iPhone sales

by Kenny Hemphill on January 23, 2013

Apple generated record quarterly revenue of $54.5bn for the period ending 29 December, its highest ever figure and an increase of 18% on the $46.3bn it generated in the same quarter the previous year.

Profit for the quarter was $13.1bn, the same as the equivalent quarter a year earlier, but Apple pointed out that, due to the way it sets its accounting periods, this year’s quarter was one week shorter than the previous year.

The star performer during the quarter appears to have been the iPad mini. While Apple didn’t split iPad sales by model, overall the iPad sold 22.9m units, compared to 15.4m units last year. The average selling price fell by 22%, suggesting that a significant proportion of total iPad sales were accounted for by the mini.

iPhone sales rose from 37m, falling just short of analysts’ 50m prediction, at 47.8m. iPod sales continued to fall, from 15.4m to 12.7m. Average selling price, however, rose to $169, suggesting that the iPod touch is growing in popularity relative to the rest of the range.

Unusually in recent years, Mac sales were a disappointment, falling from 5.2m to 4.1m year-on-year. That fall isn’t a great surprise, however, given that the iMac was unavailable for much of the quarter, eventually shipping just before Christmas.

‘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.’

Wall Street was unimpressed with the numbers, particularly iPhone and iPad sales and punished Apple’s stock, pushing it down by almost 10% in after-hours trading.

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