Apple Q1 2013 results; A mixed Bag
Apple Finally released their much anticipated fiscal Q1 2013 financials on Wednesday, and it is quite a mixed bag. Apple reported $54.5 billion in revenue (up 17.7% from the year-ago quarter), $13.1 billion in profit (flat from the year-ago quarter), and earnings of $13.81 per share.
This comes at a time when speculations are ripe about falling iPhone 5 demand. Last year, Apple had reported an incredible $46.3 billion in revenue, with quarterly profits amounting to $13.06 billion.
“We’re thrilled with record revenue of over $54 billion and sales of over 75 million iOS
devices in a single quarter,” CEO Tim Cook said “We’re very confident in our product pipeline as we continue to focus on innovation and making the best products in the world.”
In spite of overall strong performance last year, Apple’s shares have been fluctuating. After starting off the calendar year in the low $400 range, Apple’s stock price eventually skyrocketed to $705 in mid-September 2012 before taking a downward plunge and ultimately dipping below $500/share earlier this month.