Apple posts record revenue and profits; iPhone sales jump nearly 30% while iPad sales up nearly 50%

Apple once again exceeded expectations and delivered monster revenue and earnings.

Apple just posted its earnings results from the 2012 holiday quarter and posted revenue of $54.5 billion, net profit of $13.1 billion and EPS of $13.81. During the same quarter a year ago, Apple posted revenue of $46.33 billion and profits of $13.06 billion, resulting in EPS of $13.87.

It's important to note, though, that last year's holiday quarter earnings results comprised 14 weeks while the most recent quarter comprised 13 weeks. Consequently, Apple's record-setting revenue and profits this past quarter are made all the more impressive.

So while everyone was busy predicting the decline of Apple, its revenue grew by 17% and its profits remained strong. The consensus was that Apple would deliver about $54.74 billion in revenue and EPS of $13.45. As such, Apple slightly missed expectations with respect to revenue, but really nailed it out of the park when it came to what really matters - profitability.

Product-wise, Apple sold 47.8 million iPhones, 22.9 million iPads, and 4.1 million Macs. iPhone sales grew by nearly 30% while iPad sales increased by nearly 50%. iPod sales checked in at 12.7 million units compared to 15.4 million in the same quarter a year ago. And, adjusting for the extra week during last holiday's quarter, Horace Dediu notes that on an adjusted basis, iPhone sales grew by 37% while iPad sales grew by 60%.

Mac sales were down quarter-over-quarter, from 5.1 billion Macs down to 4.1 million, but Tim Cook noted during Apple's earnings conference call that the new iMac wasn't available for two out of the first three months of the quarter.

“We’re thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter,” Tim Cook said in Apple's press release. “We’re very confident in our product pipeline as we continue to focus on innovation and making the best products in the world.”

Looking ahead, Apple issued the following guidance for its earnings next quarter: revenue between $41 billion and $43 billion. Apple now has about $137 billion in cash.

In after-hours trading, shares of Apple were down to $480, a 6% drop. Absurd that Apple continues to make money hand-over-fist, deliver double-digit growth across its two most profitable product lines, and the street is still disappointed.

During Apple's earnings conference call, Tim Cook noted that Apple to date has sold over 500 million iOS devices.

via Apple

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