Apple announces record first quarter earnings

The drinks are on Apple. Or at least, they should be after the tech giant announced a record revenue of $54.5 billion in the first financial quarter of 2013.

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

How has it done that? By selling lots of mobile devices. Actually it sold lots of other things too, but the latest figures show mobile is an ever-increasing chunk of Apple's sales as we head into the new year.

Here is the breakdown. Apple sold a whopping 47.8 million iPhones and 22.9 million iPads in that quarter, both well up on the figures for the equivalent quarter last year. More new devices = more sales, as you probably guessed. Apple's sales of other high profile devices were well down though, including the iconic iPod and the Mac computer, which is likely to have a bearing on Apple's strategy over the next 12 months.

Despite those big numbers, investors don't seem pleased by the figures, with share stock falling 10 per cent after the figures were announced. Maybe they were expecting just a little bit more.

They should get more as 2013 rolls on. Apple is rumoured to be working on a new iPad for the firers half of 2013, as well as possibly three new iPhone models. With the company'e revenues more reliant on new phone hardware (and associated app and media sales), that suddenly doesn't sound like such a daft idea.

If it happens, then this time next year that $54.5 billion figure should be blown out of the water.

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