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Apple Earns $13.1 Billion in First Quarter Profits, Sells 75 Million iOS Devices

applelogo.png On sales of 47.8 million iPhones and 22 million iPads, Apple has recorded $54.5 billion in revenue and $13.1 billion in profit in a single quarter. 

By the Numbers

The numbers are in and the Apple bandwagon continues to roll on, with little sign of a slowdown. As discussed earlier, Apple has been buoyed by huge sales of iPhone from telcos such as Verizon and AT&T.  With sales of 47.8 million iPhones, 22 million iPads and 12 million iPods, it raked in $54.5 billion in revenue and $13.1 billion in profit in a single quarter. 

The revenue figure was just shy of most estimates, but the quarter was a week shorter than the same period last year, so those numbers are still deeply impressive. The quarter generated all sorts of records including $23 billion in cash flow, record iPad sales (helped by the mini, which Apple couldn't make enough of) and iPhone sales (10 million higher than last year's quarter). iPod sales are down, but still made it the device family's fourth most successful quarter.

Apple Talks Numbers

The conference call is ongoing, we'll update with news and information from that as it happens. The first note from Tim Cook was the company's refusal to compromise on product, which likely puts to rest any rumors of cut down iPhones.

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Apple's figures add up to more records
 

In China, Apple showed a year-over-year increase in revenue of 67% with a 25% rise in Japan. The company also talked about increased enterprise penetration, talking of 8,000 iPads rolled out in Barclays as one example. That was perhaps a dig at RIM's imminent Blackberry 10 launch

Apple reported $137.1 billion in cash during the call, but gave little hint as to what it would do with that staggering sum. 

Guidance for the second quarter, which is always down on the first includes the following figures:

• 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%

Remember, Apple doesn't break down sales by models, so we have little idea how the iPad mini or the iPhone 5 sold, although those earlier figures give a broad hint. The only clear black spot was a drop in Mac sales, down in units and revenue, which could be an indication of a slump in the overall computer market that even Apple loyalty can't buck.

Apple, while acknowledging the weak PC market, claimed constrained shipments and the short quarter, saying it would have sold as many of the previous quarter were it not for those issues. But that's still not growth which has to be a worry. Listen to the call transcript here

 
 
 
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