Apple’s results for the first fiscal quarter of 2013 were seen by the market as disappointing, with fewer than expected sales of key products and shrinking margins. But the quarter was also a record, both for the company and the entire worldwide economy. Statistics firm Statista released a chart Thursday in the hopes of putting Apple’s “disappointing” performance in context.
On January 23, Apple reported $54.5 billion in revenue and $13.1 billion in profit. Both were record highs for the company and Apple’s profit was the largest ever recorded in a single quarter by a technology company. The only companies, in any industry, with higher quarterly profits are ExxonMobil and Russian energy firm Gazprom, which both reported $16.2 billion in profits during the first quarter of 2011.
In the first fiscal quarter of 2013, however, Apple topped all other U.S. companies in terms of profit, including energy giants ExonMobil and Chevron (even Gazprom’s profit has fallen to around $10.1 billion). Looking at just the technology industry, no other company came close, with Apple more than doubling Microsoft’s and IBM’s profits.
Despite these numbers, Wall Street remains concerned with Apple’s momentum and has pummeled the stock in recent months. Concerns about the company’s shrinking margins also worry investors, even though Apple’s margins remain significantly higher than its competitors. Apple’s absence from both the low-cost and large-screen mobile phone markets further deflected attention away from the current state of the company.
AAPL is currently trading at 455.83, up 1.13 (0.25 percent) on the day. The stock reached an all-time closing high of 702.10 on September 19, 2012.
Note: The author currently holds a position in AAPL which was not a factor in the research, preparation, or presentation of this article.