Apple reports Q1 results: $13.81 EPS beats estimates as Apple posts second most-profitable quarter in tech history

Zach Epstein

Apple Earnings Q1 2013
Apple Earnings Q1 2013

After two consecutive misses to wrap up fiscal 2012 and an unprecedented dive in the company’s share price, all eyes were on the future as Apple (AAPL) reported its first-quarter results for fiscal 2013. Analysts’ expectations have fallen over the past few weeks as investor sentiment soured, but consensus estimates of $13.34 in profit per share on $54.58 billion in sales would still give Apple the second most profitable quarter of all time among tech companies. The results are now in, and Apple beat estimates with earnings of $13.81 per share on $54.51 billion in revenue. Apple earned $13.87 per share on sales of $46.33 billion in the same quarter last year.

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After second-quarter guidance, iPhone shipments and margins were the biggest items on industry watchers’ minds. Wall Street’s consensus called for shipments to fall in the 50 million-unit range and Apple missed estimates, having shipped 47.8 million iPhones in the holiday quarter.

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