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January 24, 2013

Strong iPhones sales help Apple post an 18% rise in Q1 revenue

The company sold 47.8 million iPhones units in the quarter.

By CBR Staff Writer

Apple has reported a 18% rise in its revenue to $54.51bn for the fiscal first quarter of 2013, compared to $46.33bn for the same period last year.

Its revenue increased 52% when compared to the $36bn the company reported in the fourth quarter of 2012.

In Q1 2013, the company reported a net income of $13.1bn, compared to $13.06bn in the year before.

Operating income fell slightly to $17.2bn for the quarter, compared to $17.3bn for the same period in the corresponding year.

iPhones sales increased to 47.8 million units for the quarter, compared to 37 million units in the year-ago quarter.

Sales of iPads increased to 22.9 million units during the quarter while sales of Macs and iPods declined to 4.1 million and 12.7 million units respectively.

Apple CFO Peter Oppenheimer said the company generated more than $23bn in cash flow from operations during the quarter.

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"We established new all-time quarterly records for iPhone and iPad sales, significantly broadened our ecosystem, and generated Apple’s highest quarterly revenue ever," Oppenheimer said.

For the fiscal second quarter of 2013, the company expects revenue to be in the range of $41bn and $43bn.

Earlier this week, several reports suggested that Apple may release three new iPhones this year, two of which will be unveiled in June.

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