Apple® 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
• 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
This press release contains forward-looking statements including without
limitation those about the Company's estimated revenue, gross margin,
operating expenses, other income/(expense), and tax rate. These
statements involve risks and uncertainties, and actual results may
differ. Risks and uncertainties include without limitation the effect of
competitive and economic factors, and the Company's reaction to those
factors, on consumer and business buying decisions with respect to the
Company's products; continued competitive pressures in the marketplace;
the ability of the Company to deliver to the marketplace and stimulate
customer demand for new programs, products, and technological
innovations on a timely basis; the effect that product introductions and
transitions, changes in product pricing or mix, and/or increases in
component costs could have on the Company's gross margin; the inventory
risk associated with the Company's need to order or commit to order
product components in advance of customer orders; the continued
availability on acceptable terms, or at all, of certain components and
services essential to the Company's business currently obtained by the
Company from sole or limited sources; the effect that the Company's
dependency on manufacturing and logistics services provided by third
parties may have on the quality, quantity or cost of products
manufactured or services rendered; risks associated with the Company's
international operations; the Company's reliance on third-party
intellectual property and digital content; the potential impact of a
finding that the Company has infringed on the intellectual property
rights of others; the Company's dependency on the performance of
distributors, carriers and other resellers of the Company's products;
the effect that product and service quality problems could have on the
Company's sales and operating profits; the continued service and
availability of key executives and employees; war, terrorism, public
health issues, natural disasters, and other circumstances that could
disrupt supply, delivery, or demand of products; and unfavorable results
of other legal proceedings. More information on potential factors that
could affect the Company's financial results is included from time to
time in the "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections of the Company's
public reports filed with the SEC, including the Company's Form 10-K for
the fiscal year ended September 29, 2012, and its Form 10-Q for the
quarter ended December 29, 2012 to be filed with the SEC. The Company
assumes no obligation to update any forward-looking statements or
information, which speak as of their respective dates.
Apple designs Macs, the best personal computers in the world, along with
OS X, iLife, iWork and professional software. Apple leads the digital
music revolution with its iPods and iTunes online store. Apple has
reinvented the mobile phone with its revolutionary iPhone and App Store,
and is defining the future of mobile media and computing devices with
NOTE TO EDITORS: For additional information visit Apple's PR website (www.apple.com/pr),
or call Apple's Media Helpline at (408) 974-2042.
© 2013 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac
OS and Macintosh are trademarks of Apple. Other company and product
names may be trademarks of their respective owners.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in
thousands and per share amounts)
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Q1'13 and Q4'12 spanned 13 weeks whereas Q1'12 included a 14th
Greater China includes China, Hong Kong and Taiwan.
Includes deferrals and amortization of related non-software
services and software upgrade rights.
Includes revenue from sales on the iTunes Store, the App Store,
the Mac App Store, and the iBookstore, and revenue from sales of
AppleCare, licensing and other services.
Includes sales of hardware peripherals and Apple-branded and
third-party accessories for iPhone, iPad, Mac and iPod.
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