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
ABC Radio, SLS Las Vegas & Skyview Networks Announce Strategic Sales & Radio Programming Relationship
June 27, 2016
iHeartMedia-Columbia Names Jonathan Reed Program Director At WNOK
Hilary Returns to 91X/San Diego
Greater Media Restructuring Leads to Layoffs
June 24, 2016
European Music Industry Reacts to "Brexit"
iHeartMedia-Nashville Names Morgan Huelsman Digital PD
In Brief - June 24, 2016
June 23, 2016
Republic Records Names Dan Cohen As VP/Marketing
WMMR/Philadelphia's 11th Annual I Bleed For Preston & Steve Blood Drive Hailed A Big Success
CBS Radio's Lisa Dent, Tim Roberts & Mick Anselmo Honored By Country Radio Hall Of Fame
June 22, 2016
Cumulus Media Appoints John Abbot as Chief Financial Officer
iHeartMedia Cannes Event With Ryan Seacrest And Usher
Berlin School & iHeartMedia Announce Return Of 'Leadership in Audio Innovation' Scholarship Competition
iHeartMedia/St. Louis Announces Launch Of Pride Radio St. Louis
June 21, 2016
Community Broadcasters Purchase Florida Stations From Apex Broadcasting
jâcapps to Host Webinar on Understanding the Connected Car
NAB Introduces Inaugural PILOT Innovation Challenge
Report: Syndicated Radio Morning Host Kane Arrested For Allegedly Assaulting Wife
In Brief - June 21, 2016
June 20, 2016
Public Voting for National Radio Hall of Famers Starts Today
Music Artists & Industry Unite for DMCA Reform Appeal
iHeartMedia Launches First Programmatic Private Marketplace For Digital Radio
In Brief - June 20, 2016
June 17, 2016
Music News
Jennifer Hudson Signs With Epic Records
BET Awards Honor Prince, Get Political
Drake Still at #1, Chili Peppers Debut at #2
Kelly Clarkson Signs Worldwide Deal With Atlantic Records
Quick Hits: Bernie Worrell, Rihanna, Aerosmith, Kennedy Center Honors, Ralph Stanley
Led Zeppelin Wins Copyright Trial
Quick Hits: Kanye West, The BET Awards
Kanye West, The Weeknd + more to play The Meadows Music and Arts Festival
Quick Hits: Music Midtown festival, Drake, Chance the Rapper. Outta This World concert, Maynard James Keenan
Nick Jonas Debuts at #2, Drake Still Tops Billboard 200
Quick Hits: Made In America festival, Drake, Rita Ora, P.M. Dawn, Grouplove, The Beatles
Quick Hits: Guns N' Roses, Christina Aguilera, Meat Loaf, Suicide Squad soundtrack
The Recording Academy Announces Amendments and Dates For Grammy Voting
Quick Hits: Phantogram and Tupac Shakur
Quick Hits: Kanye West, The Grammys, Deftones, Lollapalooza, Charlie Puth
FMQB NOW

Brad Savage, PD
WAPS/Akron

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!