Apple beats on revenue but sees profits fall for first time in a decade

Apple logoApple on Tuesday said second quarter profits fell roughly 18% to $9.5 billion -- or $10.09 per diluted share -- despite record second quarter sales of $43.6 billion -- the first year-over-year decline in earnings for the one-time tech darling in over a decade.

The results for the three-month period ended March 30, 2013 compare to revenue of $39.2 billion and net profit of $11.6 billion, or $12.30 per diluted share, in the year-ago quarter. Gross margin was 37.5 percent, approximately 100 basis points lower than the 47.4 percent reported in the year-ago quarter, as consumers gravitated to more affordable, lower-margin products like the iPad mini.

During the quarter, Apple sold 37.4 million iPhones and 19.5 million iPads, compared to 35.1 million iPhones and 11.8 million iPads in the year-ago quarter. The company also said it sold just under 4 million Macs, compared to 4 million in the year-ago quarter. Overall, international sales accounted for 66 percent of the quarter’s revenue.

"We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,” said Tim Cook, Apple’s CEO. “Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.”

Looking ahead to the current June quarter, Apple provided following guidance:

  • revenue between $33.5 billion and $35.5 billion
  • gross margin between 36 percent and 37 percent
  • operating expenses between $3.85 billion and $3.95 billion
  • other income/(expense) of $300 million
  • tax rate of 26%

"Our cash generation remains very strong, with $12.5 billion in cash flow from operations during the quarter and an ending cash balance of $145 billion," said Apple CFO Peter Oppenheimer.

For Apple, Tuesday's results mark the first year-over-year decline in profits since the first quarter of 2003 when the "early 2000s recession" began to set in stateside. The company will provide live streaming of its Q2 2013 financial results conference call beginning at 2:00 p.m. PDT on April 23, 2013.AppleInsider will provide its usual in-depth coverage.

Source: AppleInsider

Tags: Apple, report

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Sales of new models way below those of 2017 generation
 
The new Windows 10 browser will run on the Chromium engine
 
Google will shut the service down in April of 2019 instead of August as initially planned
 
The regular S10 will sport a 6.1-inch panel with the same front-facing camera design
 
The smartphone has a 6.4-inch Full HD+ (2340 x 1080 pixel) Infinity-O display
 
Google Play Services will deprecate the aging OS in newer releases
 
Apple might be looking to trial the feature on the iPad before iPhone
 
Toshiba, which released the world’s first 14TB nearline 3.5-inch and 26.1mm-height HDDs with 9-disk
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
      1
2345678
9101112131415
16171819202122
23242526272829
3031     




Poll

Do you use microSD card with your phone?
or leave your own version in comments (11)