Menu
Apple profit drops on slow iPhone growth

Apple profit drops on slow iPhone growth

Apple's Mac sales are flat in Q2, though iPad shipments are healthy

Apple's net profit dropped during the second quarter of 2013 as the company's iPhone shipment growth slowed down, based on year-over-year comparisons.

Apple recorded a profit of US$9.5 billion for the second quarter ending on March 30, falling from the $11.6 billion profit reported in the same quarter last year. The company's revenue was $43.6 billion, growing from $39.19 billion in the year-ago quarter. Analysts expected revenue to be $42.33 billion.

IPhone sales grew, totaling 37.4 million units, compared to 35.1 million in last year's second quarter; however, in that period last year unit shipments increased by 88 percent year over year. Mac sales were flat, totaling just under 4 million units during the quarter.

The company recorded fast growth with iPads, with shipments totaling 19.5 million during the quarter, compared to 11.8 million in the previous year's quarter.

Apple CEO Tim Cook in a statement said that new products are in the pipeline.

"Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline," Cook said in a statement.

Announcements could be made at the company's annual Worldwide Developers Conference, for which a date hasn't been announced. WWDC is usually held in June in the San Francisco Bay Area.

Apple had no major product releases in the previous quarter. In February, the company upgraded the MacBook Pro with Retina display and MacBook Air laptops with faster processors and more storage.

Apple expects revenue between $33.5 billion and $35.5 billion for the third quarter.

Apple also announced that its board of directors approved a plan to return capital of $100 billion to shareholders through the end of 2015. That is an increase of $55 billion from a previously announced program to return capital to investors.

Agam Shah covers PCs, tablets, servers, chips and semiconductors for IDG News Service. Follow Agam on Twitter at @agamsh. Agam's e-mail address is agam_shah@idg.com


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issuesApplefinancial results

Featured

Slideshows

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments