Apple reports quarterly revenue of $37.5 billion, sells 33.8 million iPhones

By on October 28, 2013, 6:00 PM
apple, iphone, revenue, sales, quarterly earnings, profit, iphone 5s, ipad air

Apple on Monday topped Wall Street estimates as they reported revenue of $37.5 billion for the fourth quarter of their 2013 fiscal year. The figure is up from $35.97 billion during the same period last year and beat Apple’s own estimates of roughly $37 billion.

Net income for the quarter was $7.51 billion, or $8.26 per share. That’s down from $8.22 billion, or $8.67 a share, a year ago but still beat analysts’ average estimates of $7.96 per share based on revenue of $36.9 billion.

Sales of iPhones fell below analysts’ forecasts of 34.5 million with 33.8 million sold in the quarter despite launching two new models, the iPhone 5s and the 5c, for the first time ever. Elsewhere, Cupertino sold 14.1 million iPads, 4.6 million Macs and 3.5 million iPods during the three-month period.

It’s worth mentioning that only the new iPhones were included in the quarterly report which happened to arrive at the end of the quarter. Other new products like the second generation iPad mini with Retina display, the iPad Air, new MacBook Pros and the Mac Pro will all be part of Apple’s next quarterly earnings report which runs through December.

Looking forward, Apple said they expect to generate sales of between $55 billion to $58 billion which falls in line with average analyst expectations of $55.7 billion. Additionally, Apple announced a $3.05 per share dividend that will be made available to shareholders on November 14.

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