Apple profits break records for Q1 2013

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Apple CEO Tim Cook and CFO Peter Oppenheimer participated in a conference call on January 23rd, answering financial questions and discussing Apple profits for Q1 2013.

Tim Cook started the conference call saying confidently that Apple is in a very good place financially with a quarterly revenue of $54.5 billion and new records for iPad and iPhone sales. He then talked about maintaining Apple’s culture so everyone is working hard on making the best products possible. January 24th is the anniversary of when Steve Jobs first introduced the Macintosh way back in 1984 in a shareholder meeting in Cupertino, CA, and Cook said Apple relies on the same spirit and drive that brought us the original Macintosh with new products such as the iPod, iPhone, and iPad. The most important thing at Apple is people loving Apple products (not just buying them, but loving them) and in making the world’s best products to enrich people’s lives.

“We’re thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter,” said Cook. “We’re very confident in our product pipeline as we continue to focus on innovation and making the best products in the world.”

Peter Oppenheimer then came on to give the financial results for Q1 2013, during which Apple generated their highest quarterly revenue and net income in the company’s history. Their revenue was $54.5 billion compared to $46.3 billion in Q1 2012, an increase of $8.2 billion. Most of this increase in revenue was because of the record iPhone, iPad, and iTunes sales. Apple’s Board of Directors declared a cash dividend of $2.65 per share of Apple’s common stock, payable on February 14, 2013.

“We’re pleased to have generated over $23 billion in cash flow from operations during the quarter,” said Oppenheimer. “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 sold 47.8 million iPhones in Q1 2013 (up from 37 million in 2012) and 22.9 million iPads (up from 15.4 million in 2012). However, Apple sold 4.1 million Macs (down from 5.2 million in 2012) and 12.7 million iPods (down from 15.4 million in 2012). Tim Cook believed more iMacs would have been sold if there had been more of them to deliver to consumers, since supply was limited (delivery times were 3-4 weeks).

There was a lot of information given in this conference call and you can listen to the entire hour at the Apple Events page and read a summary at Apple Press Info.

Source [Apple Press Info]

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