Record sales barely lift Apple's profit
Apple is hailing record revenues in 4Q12 – its fiscal 1Q13 - despite generating only an incremental increase in net profit year on year.
The US device vendor made a profit of $13.1 billion in 4Q12, exactly the same as it reported in 4Q11. Drilling down into its results shows the figure grew $14 million year on year, as higher sales costs and operating expenses took their toll.
Revenue grew from $46.3 billion in 4Q11 to $54.5 billion in the recent quarter, as iPhone sales grew from 37 million in 4Q11 to 47.8 million in 4Q12, and iPad sales hit 22.9 million compared to 15.4 million in 4Q11.
Peter Oppenheimer, Apple’s chief finance officer, notes that, in addition to generating the firm’s highest ever quarterly revenue, the firm also “established new all-time quarterly records for iPhone and iPad sales,” and broadened its ecosystem.
The firm predicts more modest revenue of between $41 billion and $43 billion in calendar 1Q13, and gross margin between 37.5% and 38.5%.