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Apple Q1 2013 earnings: 47.8 million iPhones and 22.9 million iPads sold    

  Apple Q1 2013 earnings: 47.8 million iPhones and 22.9 million iPads sold
Added by Gauss on 24.01.2013

It looks like predictions and estimates were wrong...

Apple has just reported the financial results for its first quarter ended December 29, revealing record iPhone and iPad sales.

 

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Apple just announced its Q1 2013 earnings, and the company posted a record $13.1b profit on a record $54.5b in revenue, beating all the previous estimates, predictions and rumors of weak demand.

iPhone sales were a record 47.8m compared to 37.04m iPhones a year ago and 26.9m iPhones last quarter, and iPad sales also set a record at 22.9m sold, compared to 15.43m last year and 14m last quarter. Overall, Apple moved some 75m iOS devices last quarter.

So, the number of iPhones, iPads and iPods sold has surpassed the half a billion mark (that's over 500,000,000 devices).

A few of the company devices were down, though. Mac sales during the holiday quarter were down to 4.1m from 5.2m last year, while the iPod continued its predictable slide, with the traditionally strong holiday sales coming in at 12.7m from 15.4m a year ago.





Some key notes from Apple's earnings call:

• Over half a billion iOS devices have been activated.
• iPhone sales in China have doubled year-over-year.
• As we knew, Apple had delays producing its new iMac, and Peter Oppenheimer says that "we believe our Mac sales would have been much higher absent these constraints."
• Apple's retail stores are averaging 23,000 visitors per week, a seven percent increase.
• The company didn't specify its iPad mini sales, but Tim Cook said "we could not build enough iPad minis to come into a demand balance."
• Apple says it has delivered 4 trillion notifications in Notification Center, and it has 200 million Game Center users.

And finally, take a look at the full PR Apple sent, below!

Apple Reports Record Results

47.8 Million iPhones Sold; 22.9 Million iPads Sold

CUPERTINO, Calif., Jan 23, 2013 -- Apple(R) today announced financial results for its 13-week fiscal 2013 first quarter ended December 29, 2012. The Company posted record quarterly revenue of $54.5 billion and record quarterly net profit of $13.1 billion, or $13.81 per diluted share. These results compare to revenue of $46.3 billion and net profit of $13.1 billion, or $13.87 per diluted share, in the 14-week year-ago quarter. Gross margin was 38.6 percent compared to 44.7 percent in the year-ago quarter. International sales accounted for 61 percent of the quarter's revenue.

Average weekly revenue was $4.2 billion in the quarter compared to $3.3 billion in the year-ago quarter.

The Company sold a record 47.8 million iPhones in the quarter, compared to 37 million in the year-ago quarter. Apple also sold a record 22.9 million iPads during the quarter, compared to 15.4 million in the year-ago quarter. The Company sold 4.1 million Macs, compared to 5.2 million in the year-ago quarter. Apple sold 12.7 million iPods in the quarter, compared to 15.4 million in the year-ago quarter.

Apple's Board of Directors has declared a cash dividend of $2.65 per share of the Company's common stock. The dividend is payable on February 14, 2013, to shareholders of record as of the close of business on February 11, 2013.

"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."

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

* revenue between $41 billion and $43 billion

* gross margin between 37.5 percent and 38.5 percent

* operating expenses between $3.8 billion and $3.9 billion

* other income/(expense) of $350 million

* tax rate of 26%

Apple will provide live streaming of its Q1 2013 financial results conference call beginning at 2:00 p.m. PST on January 23, 2013 at www.apple.com/quicktime/qtv/earningsq113 . This webcast will also be available for replay for approximately two weeks thereafter.

Apple Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except number of shares which are reflected in thousands and per share amounts)


Three Months Ended
-------------------------------------
December 29, December 31,
2012 2011
---------------- ----------------
Net sales $ 54,512 $ 46,333
Cost of sales (1) 33,452 25,630
-------- --------
Gross margin 21,060 20,703
-------- --------
Operating expenses:
Research and development (1) 1,010 758
Selling, general and administrative (1) 2,840 2,605
-------- --------
Total operating expenses 3,850 3,363
-------- --------
Operating income 17,210 17,340
Other income/(expense), net 462 137
-------- --------
Income before provision for income taxes 17,672 17,477
Provision for income taxes 4,594 4,413
-------- --------
Net income $ 13,078 $ 13,064
======== ======== ======== ========
Earnings per share:
Basic $ 13.93 $ 14.03
Diluted $ 13.81 $ 13.87
Shares used in computing earnings per share:
Basic 938,916 931,041
Diluted 947,217 941,572
Cash dividends declared per common share $ 2.65 $ 0
(1) Includes share-based compensation expense as follows:
Cost of sales $ 85 $ 63
Research and development $ 224 $ 160
Selling, general and administrative $ 236 $ 197

Apple Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in
thousands)
December 29, September 29,
2012 2012
------------------ ------------------
ASSETS:
Current assets:
Cash and cash equivalents $ 16,154 $ 10,746
Short-term marketable securities 23,666 18,383
Accounts receivable, less allowances of $119 and $98, respectively 11,598 10,930
Inventories 1,455 791
Deferred tax assets 2,895 2,583
Vendor non-trade receivables 9,936 7,762
Other current assets 6,644 6,458
--------- ---------
Total current assets 72,348 57,653
Long-term marketable securities 97,292 92,122
Property, plant and equipment, net 15,422 15,452
Goodwill 1,381 1,135
Acquired intangible assets, net 4,462 4,224
Other assets 5,183 5,478
--------- ---------
Total assets $ 196,088 $ 176,064
========= ========= ========= =========
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
Accounts payable $ 26,398 $ 21,175
Accrued expenses 13,207 11,414
Deferred revenue 7,274 5,953
--------- ---------
Total current liabilities 46,879 38,542
Deferred revenue - non-current 2,938 2,648
Other non-current liabilities 18,925 16,664
--------- ---------
Total liabilities 68,742 57,854
--------- ---------
Commitments and contingencies
Shareholders' equity:
Common stock, no par value; 1,800,000 shares authorized; 938,973 and 17,167 16,422
939,208 shares issued and outstanding, respectively
Retained earnings 109,567 101,289
Accumulated other comprehensive income 612 499
--------- ---------
Total shareholders' equity 127,346 118,210
--------- ---------
Total liabilities and shareholders' equity $ 196,088 $ 176,064
========= ========= ========= =========

Apple Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Three Months Ended
-------------------------------------
December 29, December 31,
2012 2011
---------------- ----------------
Cash and cash equivalents, beginning of the period $ 10,746 $ 9,815
-------- -------- -------- --------
Operating activities:
Net income 13,078 13,064
Adjustments to reconcile net income to cash generated by operating
activities:
Depreciation and amortization 1,588 721
Share-based compensation expense 545 420
Deferred income tax expense 1,179 1,456
Changes in operating assets and liabilities:
Accounts receivable, net (668) (3,561)
Inventories (664) (460)
Vendor non-trade receivables (2,174) (1,206)
Other current and non-current assets 413 (962)
Accounts payable 6,145 4,314
Deferred revenue 1,611 1,296
Other current and non-current liabilities 2,373 2,472
-------- --------
Cash generated by operating activities 23,426 17,554
-------- --------
Investing activities:
Purchases of marketable securities (37,192) (40,175)
Proceeds from maturities of marketable securities 3,460 3,038
Proceeds from sales of marketable securities 23,002 21,472
Payments made in connection with business acquisitions, net (284) 0
Payments for acquisition of property, plant and equipment (2,317) (1,321)
Payments for acquisition of intangible assets (138) (108)
Other (52) (34)
-------- --------
Cash used in investing activities (13,521) (17,128)
-------- --------
Financing activities:
Proceeds from issuance of common stock 76 91
Excess tax benefits from equity awards 404 333
Dividends and dividend equivalent rights paid (2,493) 0
Repurchase of common stock (1,950) 0
Taxes paid related to net share settlement of equity awards (534) (355)
-------- --------
Cash (used in)/generated by financing activities (4,497) 69
-------- --------
Increase in cash and cash equivalents 5,408 495
-------- --------
Cash and cash equivalents, end of the period $ 16,154 $ 10,310
======== ======== ======== ========
Supplemental cash flow disclosure:
Cash paid for income taxes, net $ 1,890 $ 1,474


Apple Inc.
Q1 2013 Unaudited Summary Data
(Units in thousands, Revenue in millions)
Q1'13 (a) Q4'12 (a) Q1'12 (a) Sequential Change Year/Year Change
------------------- ------------------- ------------------- ------------------ -----------------
Operating Segments Revenue Revenue Revenue Revenue Revenue
----------- ----------- ----------- ---------- ---------
Americas $ 20,341 $ 13,810 $ 17,714 47% 15%
Europe 12,464 8,023 11,256 55% 11%
Greater China (b) 6,830 5,427 4,080 26% 67%
Japan 4,443 2,367 3,550 88% 25%
Rest of Asia Pacific 3,993 2,110 3,617 89% 10%
Retail 6,441 4,229 6,116 52% 5%
------ ------ ------ ---------- ---------
Total Apple $ 54,512 $ 35,966 $ 46,333 52% 18%
--- ------
Q1'13 (a) Q4'12 (a) Q1'12 (a) Sequential Change Year/Year Change
------------------- ------------------- ------------------- ------------------ -----------------
Product Summary Units Revenue Units Revenue Units Revenue Units Revenue Units Revenue
------ ----------- ------ ----------- ------ ----------- ----- ---------- ----- ---------
iPhone (c) 47,789 $ 30,660 26,910 $ 16,645 37,044 $ 23,950 78% 84% 29% 28%
iPad (c) 22,860 10,674 14,036 7,133 15,434 8,769 63% 50% 48% 22%
Mac (c) 4,061 5,519 4,923 6,617 5,198 6,598 - 18% - 17% - 22% - 16%
iPod (c) 12,679 2,143 5,344 820 15,397 2,528 137% 161% - 18% - 15%
iTunes/Software/Services (d) 3,687 3,496 3,020 5% 22%
Accessories (e) 1,829 1,255 1,468 46% 25%
------ ------ ------ ---------- ---------
Total Apple $ 54,512 $ 35,966 $ 46,333 52% 18%
--- ------




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