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Apple Reports Higher Revenue

23 Apr, 2013 By: Chris Tribbey

Apple April 23 reported higher revenue but a lower profit for its fiscal second quarter, ended March 30.

The company posted revenue of $43.6 billion, up from $39.2 billion from the same quarter in 2012. Profit for the quarter was $9.5 billion, down from $11.6 billion during the same quarter in 2012.

“We are pleased to report record March quarter revenue, thanks to continued strong performance of iPhone and iPad,” said Apple CEO Tim Cook. “Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.”

Apple sold 37.4 million iPhones and 19.5 million iPads during the quarter, compared with 35.1 million iPhones and 11.8 million iPads during the same quarter in 2012. The company sold just fewer than 4 million Mac computers, down slightly from 4 million the same quarter in 2012.

“Our cash generation remains very strong, with $12.5 billion in cash flow from operations during the quarter and an ending cash balance of $145 billion,” said company CFO Peter Oppenheimer.

For the fiscal third quarter of 2013, Apple is expecting revenue between $33.5 billion and $35.5 billion.

About the Author: Chris Tribbey

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