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Apple Q2 2013 Earnings Out: Beats Street Estimates, 37.4M iPhones Sold, 19.5M iPads

Apple - Earnings - Money

Apple just posted its earnings for the fiscal second quarter of 2013. The company reported a net profit of $9.5 billion, $43.6 billion in revenue and an EPS of $10.09. That was above average analyst estimates of revenue of $42.3 billion and an estimated EPS of $9.98.

Apple said it sold 37.4 million iPhone units, “just under” 4 million Macs and 19.5 million iPads during the quarter. It sold 35.1 million iPhones in the year-ago quarter, 11.8 million iPads in the year-ago quarter and 4 million Macs in the year-ago quarter. The company sold 5.6 million iPods, more than half of which were the iPod touch model.

“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.”

Apple issued rather weak guidance for the third quarter and said it expects revenue between $33.5 billion and $35.5 billion, which is lower than analyst estimates of $38.6 billion for Q3. That, however, could be a reflection of Apple CFO Peter Oppenheimer’s promise to keep earnings projections as accurate as possible.

Apple Reports Second Quarter Results

37.4 Million iPhones Sold; 19.5 Million iPads Sold

CUPERTINO, California—April 23, 2013—Apple® today announced financial results for its fiscal 2013 second quarter ended March 30, 2013. The Company posted quarterly revenue of $43.6 billion and quarterly net profit of $9.5 billion, or $10.09 per diluted share. These results 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 compared to 47.4 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.

The Company sold 37.4 million iPhones in the quarter, compared to 35.1 million in the year-ago quarter. Apple also sold 19.5 million iPads during the quarter, compared to 11.8 million in the year-ago quarter. The Company sold just under 4 million Macs, compared to 4 million in the year-ago quarter.

“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.”

“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 Peter Oppenheimer, Apple’s CFO.

Apple is providing the following guidance for its fiscal 2013 third quarter:

  • 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%

Apple will provide live streaming of its Q2 2013 financial results conference call beginning at 2:00 p.m. PDT on April 23, 2013 at www.apple.com/quicktime/qtv/earningsq213. This webcast will also be available for replay for approximately two weeks thereafter.


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Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...


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