Apple tonight released their fiscal results for Q1 2013, the quarter which ended on December 29th, 2012. Apple saw iPhone sales of 47.8 million, just shy of the 50 million predicted by Wall Street. iPad sales of 22.9 million were in line with expectations. The results were good for a record quarter which included profits of $54.5 billion and revenue for the quarter of $13.1 billion. Investors were disappointed by the decline in gross margins which came in at 38.6 percent, down from 44.7 percent in the year-ago-quarter.
While iOS device sales were up, the company saw a decline in Mac sales from 5.2 million to 4.1 million. The lack of availability of Apple’s new iMac likely impacted the numbers, along with the quarter having one less week than the previous year. iPod sales were also down from 15.4 million to 12.7 million.
Highest quarterly sales of iPhone and iPad in everdom. $23 billion in cash flow. Record profit and revenue. Margins appear to be the issue that is driving the stock down upwards of 10 percent in after-hours trading.