Apple announces fiscal 2013 Q1 results

Apple yesterday announced financial results for the first quarter of its fiscal 2013 year. It once again posted impressive numbers but is also facing stiffer competition on many sides. Quarterly revenues came in at US$54.5 billion with quarterly net profits topping US$13 billion. Despite this year’s quarter being a week shorter than last year’s quarter, Apple still beat last year’s numbers.

“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 sold a record 47.8 million iPhones over the quarter, up from 37 million the same quarter a year ago). It also sold a record 22.9 million iPads (up from 15.4 million a year ago), 4.1 million Macs and 12.7 million iPods. Both Macs and iPod volumes dropped from last year.

Underlying the stiffer competition it is facing (among other factors), Apple’s gross margin for the first quarter came in at 38.6%, down from 44.7% the same quarter a year ago.

Apple expects revenues to fall in the US$41 billion to US$43 billion range for the next quarter.

Read more: Apple