Apple Beats Estimates In Q2 2013, Posts First YoY Earnings Decline Since 2003: $43.6B In Revenue, $9.5B In Profit, EPS Of $10.09

Apple has been the subject of plenty of financial scrutiny (perhaps even moreso than usual) recently, and now all that speculation has come to a head. The Cupertino company has just released its fiscal Q2 2013 earnings — it reported $43.6 billion in revenue (up from $39.2 billion in the year-ago quarter) along with $9.5 billion in quarterly net profit, which works out to earnings of $10.09 per share. That means that the rumblings were true — Apple posted EPS of $12.30 per share back in Q2 2012, which makes this the company’s first year-over-year quarterly earnings decline in nearly a decade. Naturally, the bigger question is whether or not this ignominious milestone will mean anything for Apple going forward and there’s no clear answer to that just yet. Financially speaking it was bound to happen sooner or later, but Apple’s recently-cultivated image as a computing juggernaut could take a very prominent hit. These past few days have been surprisingly turbulent ones for Apple (the company’s share price tumbled below the $400 mark just last week to a new 16-month low), so it’s no surprise to see that analysts weren’t quite as bullish on Apple as they usually tend to be. According to Bloomberg Businessweek, the analyst consensus was for Apple to announce earnings of $10.02 per share on $42.4 billion in revenue, which the company managed to beat. On the other hand, Apple’s own (notoriously conservative) guidance from its last earnings release forecasted revenues between $41 and $43 billion. Despite the fact that Apple didn’t release or unveil any new hardware in Q2 (as some eagerly suggested it would), device sales were still nothing to sneeze at. As always, we’ve got more detailed breakdowns of how Apple did in terms of hardware this quarter courtesy of Jordan and Darrell, but here’s how the company did in a nutshell: Apple sold 37.4 million iPhones during Q2, along with 19.5 million iPads, but there’s no longer any word on iPods. Mac sales came up short as well, as Apple sold 4 million of them back in Q2 2012 compared to “under 4 million” this time around. Not too shabby considering that iDevice sales are up across the board compared to the year-ago (and in the iPad’s case, dramatically so likely thanks to the iPad mini), but the lack of any new standout products has weighed heavily on some people’s minds over

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