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Apple Reports Financial Results for its Fiscal 2013 Fourth Quarter

Oct 29 2013, 3:13am CDT | by , in News | Apple

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Apple Reports Financial Results for its Fiscal 2013 Fourth Quarter
Photo Credit: Getty Images

Apple’s financial state in the fourth quarter of 2013 is looking up for revenue but down for profits. The profits raked in amounted to $7.5 billion or $8.26/share while revenue of $37.5 billion is earned.

Today, Apple released its financial report for the fourth quarter of 2013. The end of the year results speak for themselves. It showed definite progress for the high tech giant. On the revenue of $37.5 billion, it amassed profits which reached $7.5 billion. As for gross margin, it stood at 37%. Compare this with the 40% achieved in the last quarter of 2012 and you get a pretty good idea of what a difference a year has made for Apple. 

The firm owns $146.8 billion in cash assets and market securities. What this means is that Apple is safe and sound from any economic shocks. That may be one reason why a dividend payment of $3.05 per share was decided upon by Apple. Its operations furthermore lent it $9.9 billion. 

Apple’s CEO, Tim Cook said,“We’re pleased to report a strong finish to an amazing year with record fourth quarter revenue, including sales of almost 34 million iPhones. We’re excited to go into the holidays with our new iPhone 5c and iPhone 5s, iOS 7, the new iPad mini with Retina Display and the incredibly thin and light iPad Air, new MacBook Pros, the radical new Mac Pro, OS X Mavericks and the next generation iWork and iLife apps for OS X and iOS.”

The sales of devices were plenty for Apple. Over $170.9 billion worth of products were literally snatched off the shelves. While the sales of Macs and iPods were the lowest ever, the sales of iPhones reached 150 million. These iPhones sold a total of 25 million in 2012. 

Finally, coming to the iPads, 71 million got bought from stores for a price of course. Over 169.2 million tablets were purchased by Apple lovers too. It has been a monumental year for Apple and it has ended on a positive note. While the revenues have risen, some of the profits have tapered. But that is not a problem for Apple which has a backlog of support both financial and technological to rely on. 

Apple’s CFO, Peter Oppenheimer said, “We generated $9.9 billion in cash flow from operations and returned an additional $7.8 billion in cash to shareholders through dividends and share repurchases during the September quarter, bringing cumulative payments under our capital return program to $36 billion.”

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