Apple announces record Q1 2013 results, $54.5 billion in revenue, $13.1 billion net profit

23 January, 2013 - Paul Dixon
Apple Dollars

Apple has just announced its earnings for its first fiscal quarter of 2013. The Cupertino company reported record Q1 revenue of $54.5 billion and a record net profit of $13.1 billion, or $13.81 per diluted share. By comparison, for the same quarter last year, it reported revenue of $46.3 billion and a net profit of $13.06 billion, or $13.87 per diluted share.

Gross margin during Q1 2013 was 38.6%, compared to 44.7% in Q1 2012, and international sales amounted to 61% of the quarter’s total revenue.

During the quarter, Apple’s average weekly revenue was $4.2 billion, up form an average of $3.3 billion year-on-year.

Unsurprisingly, the iPhone continues to be Apple’s most successful product, with a record 47.8 million units sold during the quarter, compared to 37 million in Q1 2012. The iPad was the company’s next most popular product, with record sales of 22.9 million units, compared to 15.4 million year-on-year.

Apple sold 4.1 million Macs during the quarter, down from 5.2 million a year ago. Supply constraints on the new iMacs are one of the reasons behind the decrease in Mac sales. Sales of the iPod continue to decline, with 12.7 million units sold during the quarter, down from 15.4 million in Q1 2012.

The iTunes Store generated $2.1 billion in revenue.

In a press release issued by the company, Apple CEO Tim Cook expressed his delight at the results:

“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.”

Apple’s board of Directors have declared a cash dividend of $2.65 per share, which is payable on the 14th of February to shareholders, as of the close of business on the 11th of February.

Looking ahead to the second fiscal quarter of 2013, Apple expects revenue between $41 billion and $43 billion, and gross margin between 37.5 and 38.5%.

About the author

Paul Dixon is the owner of Macsessed. He lives in Lancashire in the UK where he works as a web designer. You can find him on and Twitter.