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
XAPPmedia, jâcapps Announce Partnership
Westwood One Ups Paul O’Malley To SVP Strategic Sales Partnerships
SoundExchange Wraps Record-Setting Year With $773 Million In Payments To Recording Artists, Record Labels
WRWM-FM Introduces New Classic Hip Hop In Indianapolis
In Brief - January 28, 2015
January 27, 2015
Triton Digital, eXelate Develop First Streaming Audio Data Management Platform
SiriusXM Announces Sports And Entertainment Programming For Super Bowl Week
XL106.7/Orlando's Johnny Magic Gets His Revenge
In Brief - Jaunary 27, 2015
January 26, 2015
Joe Clair Returns To WPGC For Mornings
CBS Sports Radio To Broadcast Nearly 50 Hours Of Super Bowl Coverage
In Brief - January 26, 2015
January 23, 2015
eQB NOW
Tommy Chuck Named Program Director of WIHT/Washington, D.C. & WPOC/Baltimore
iHeartRadio Surpasses 60 Million Registered Users
SFX Entertainment Names New President & COO
Third Music Industry Reunion Planned For Los Angeles
In Brief - January 23, 2015
January 22, 2015
Edgar "Shoboy" Sotelo Joins WBMP/New York For Mornings
Rdio Launches In 24 New International Markets
Shazam Announces $30 Million Investment At $1 Billion Valuation
iHeartMedia Celebrates Valentine's With "iHeartRadio Ultimate Valentine's Escape"
In Brief - January 22, 2015
January 21, 2015
Dave Dyer Promoted to SVP Promotion, Warner Bros. Records
JD Garfield Joins KWYD/Boise As APD/Morning Drive Host
Music News
Barker, Hoppus Talk Status Of Blink-182
Quick Hits: Sam Smith / Tom Petty, Chris Brown, John Legend & Common, Forecastle Festival
Slipknot Prepares For Summer's Last Stand
ThinkSay Records Signs Recording Artist Matt White
Quick Hits: Blink-182, Faith No More, Death Cab For Cutie, U2, Jason Mraz, AWOLNATION
Paramore Announce Spring Theater "Events"
Quick Hits: Kanye West, The Black Keys, Rush, Nick Jonas
BET Honors Usher, Kanye West
Quick Hits: Ariana Grande, TLC, Art Of Anarchy, Rob Zombie, Aerosmith, Rocklahoma
Meghan Trainor's Title Debuts At #1
LL Cool J Returning As Grammy Host
Quick Hits: The Grammys, Gwen Stefani, Pharrell, Linkin Park, Interpol, David Byrne
Madonna Bares Her Rebel Heart
Quick Hits: Slipknot, Justin Bieber, NKOTB / TLC / Nelly, Mötley Crüe, "Weird Al" Yankovic
FMQB Retro-Active: Ken Sharp Talks to Longtime Music Scribe Harvey Kubernik About His Latest Musical Tome
FMQB NOW

Alicia Tyler, PD
WZNE/Rochester

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!