Apple's Q1 revenue grows, but Mac sales fall

IPhone and iPad sales grew

Apple's revenue grew but profit was flat in its first fiscal quarter of 2013, during which sales of iPhones and iPads rose, but Mac and iPod shipments dropped.

Apple reported a net profit of $US13.1 billion for the quarter ended December 29, matching the profit reported in 2012's first fiscal quarter. Earnings per share were $US13.81, which was higher than the consensus estimate of $US13.47 from analysts polled by Thomson Reuters.

The company reported revenue of $US54.5 billion, up from $US46.3 billion year on year.

Sales of Mac computers and iPods fell during the quarter. Mac sales totalled 4.1 million, dropping from 5.2 million. The fall in Mac shipments comes amid struggles in the personal computer market. Worldwide PC shipments fell by 6.4 per cent during the fourth calendar quarter of 2012 compared to the same quarter in 2011, according to research firm IDC.

IPod shipments fell to 12.7 million units compared to 15.4 million units in the year-ago quarter.

Apple sold 47.8 million iPhones during the first quarter, growing from 37 million. Apple sold 22.9 million iPads, growing from 15.4 million.

Apple now offers two iPads -- the fourth-generation iPad with a 9.7-inch screen and the iPad Mini with a 7.9-inch screen. Apple did not provide a breakdown of specific sales related to each iPad model, but there have been concerns among analysts that the iPad Mini sales are affecting the fourth-generation iPad sales. Apple shipped the new iPad models in early November and announced it had sold 3 million units in the first three days.

Apple is projecting revenue for the second quarter to be between $US41 billion and $US43 billion.

Agam Shah covers PCs, tablets, servers, chips and semiconductors for IDG News Service. Follow Agam on Twitter at @agamsh. Agam's e-mail address is agam_shah@idg.com

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Agam Shah

IDG News Service
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