by Juli Clover
January 23, 2013
Apple has announced its financial results for the fourth calendar quarter of 2012 and the first fiscal quarter of 2013, which ended Dec. 29, 2012, and the results are impressive. The Cupertino-based company is reporting record revenue of $54.5 billion along with a net quarterly profit of $13.1 billion, or $13.81 per diluted share. Apple missed estimates on revenue numbers, but did beat profit estimates. Apple sold a record number of iPhones, at 47.8 million compared to 37 million last year. The company also sold 22.9 million iPads, compared to 15.4 million in the same quarter last year. Mac sales were down, at 4.1 million compared to 5.2 million, and iPods were down as well, at 12.7 million compared to 15.4 million in the year-ago quarter. “We’re thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter,” said Apple CEO Tim Cook. “We’re very confident in our product pipeline as we continue to focus on innovation and making the best products in the world.” Apple also provided guidance for its second fiscal quarter of 2013, predicting revenue between $41 billion and $43 billion, with a gross margin between 37.5 percent and 38.5 percent. Apple is expecting operating expenses of $3.8 billion to $3.9 billion, and a tax rate of 26 percent. Though Apple saw a revenue of $54.5 billion, it was below the average analyst estimate of $54.74 billion. As a result, Apple stock is currently down almost 5 percent in after hours trading.