Tech giant revenues up 17.7 per cent
Despite stiff competition from Samsung of late, Apple has reported that its Q1 revenues are up 17.7 per cent to $54.5 billion, while its year-on-year profits remain flat at $13.1 billion.
A record number of 47.8 million iPhones were sold during the first quarter, representing a year-on-year rise of 23 per cent, while iPad sales were up 33 per cent to 22.9 million.
“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.”
Elsewhere, sales of Macs and iPods were down 22 per cent and 18 per cent respectively when compared to Q1 2012, with 4.1 million Macs and 12.7 million iPods sold.