Apple Posts Another Record Quarter, But Stocks Take Hit
January 24, 2013

Despite reporting another record-breaking quarterly report for its fiscal Q1, Apple took a hit in the stock market late Wednesday, as the results did not live up to Wall Street's expectations. Apple reported a record $54.5 billion in quarterly revenue, with record quarterly net profit of $13.1 billion.

Apple also sold a record 47.8 million iPhones in the quarter, compared to 37 million in Q1 2012. Apple also sold a record 22.9 million iPads during the quarter, compared to 15.4 million a year earlier. Sales of Macs and iPods continued to gradually slip, as the company sold 4.1 million Macs, down from 5.2 million, and 12.7 million iPods, down from 15.4 million.

"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."

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

However, Wall Street experts expected $54.7 billion in revenue in Apple's fiscal Q1. The company also predicted Q2 revenue will come in between $41 and 43 billion, bellow Wall Street hopes for $45.6 billion. After-hours trading of Apple stock saw it drop over 10 percent in value, down by $52.54 to $461.47/share, according to CNet. As of 9:45 a.m. ET today, Apple was trading at around $453/share, having fallen even further once the stock markets re-opened. Analysts were also expecting higher sales figures on iPads and Macs in the quarter.




 
Breaking News
KSSX/San Diego Flips to Rhythmic CHR as JAM’N 95.7
On-Air Moves at Entercom-San Francisco
Universal Music Group Acquires Digital Agency Fame House
Cherrytree Records Partners With ADA
In Brief - May 27, 2016
May 26, 2016
Cumulus Media Appoints John Dimick as VP/Programming Operations
Universal Music Group Appoints Gautam Srivastava to EVP, Human Resources
Intergr8 Research: Which Hits Shazam Can Help You Spot Early
Beasley Broadcast Group Declares Quarterly Cash Dividend
In Brief - May 26, 2016
May 25, 2016
Nielsen Insights: Their Generation
NAB Statement on Court Ruling on Media Ownership Rules
Republic Records Celebrate DNCE Going Double Platinum
May 24, 2016
iHeartMedia Wins Legal Battle
Spotify's Losses Increase As Revenues Grow Faster
Pierre Bouvard: The TV Upfront: History, 2016 issues, and What It Means For Radio
United Stations Adds Sammy Hagar's Radio Show
May 23, 2016
Columbia Records Announces Jennifer Frommer As Head of Its Creative Agency
iHeartRadio Summer Pool Party Heats Up Miami
National Radio Hall of Fame Announces 2016 Nominees
Shelley Wade Named Afternoon Host at KMYI (Star 94.1)/San Diego
Spotify's Family Plan Gets An Upgrade
May 20, 2016
eQB NOW
May 19, 2016
Republic Records Promotes David "Davey Dee" Ingenloff to SVP/Rhythm Crossover Promotion
Music News
Drake's Views Spends a Fourth Week at #1
FMQB Retro-Active: Ken Sharp Enthuses On The Who's Still-Thriving Music Career, As Well As Their Charitable Efforts
The Weeknd Tops Billboard Music Award Winners
Quick Hits: Leona Lewis, The Strokes, Cold War Kids
Quick Hits: Teen Choice Awards, Bon Jovi, The Killers
Quick Hits: Eminem, Mariah Carey, Red Nose Day TV Special, My Morning Jacket, The Tragically Hip
Drake Stays at #1, Meghan Trainor Debuts at #3 on Billboard 200
Quick Hits: Red Hot Chili Peppers, Megadeth, Ramones
Drake Leads Nominees For 2016 BET Awards
Quick Hits: Adele, Fifth Harmony, Life is Beautiful festival, Beastie Boys
Quick Hits: Chevelle, Rage Against The Machine / Prophets of Rage, 3 Doors Down, Make America Rock Again tour
Ariana Grande, Calvin Harris & More Headlining Billboard Hot 100 Festival
Quick Hits: MuchMusic Awards, Guns N' Roses / Lenny Kravitz / Alice in Chains, Rage Against The Machine, Riot Fest
Puff Daddy Takes Bad Boy Reunion on the Road
Quick Hits: Justin Timberlake, Houston Open Air, The Temper Trap, High Elevation Rock Festival, Pilgrimage Music & Cultural Festival, Lou Reed
FMQB NOW

John Mayer
PD, WFLZ/Tampa

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!