Daily Archives: January 23, 2013

Chris Nuttall

Apple’s shares fell more than 10 per cent in extended trading in New York after the Silicon Valley company reported first-quarter revenues and iPhone sales below Wall Street expectations.

Apple reported $54.5bn in sales compared to an analyst consensus of $54.7bn. along with iPhone sales of 47.8m units, below expectations of around 50m.

Our live blog of the earnings announcement and subsequent conference call is after the jump. 

Tim Bradshaw

Some analysts are calling Apple’s first-quarter results, coming after the market closes on Wednesday, the iPhone maker’s most important in years.

The company’s stock price has tumbled by a quarter since September’s peak and October’s warning that profit margins would come under pressure from the near-simultaneous launch of the iPhone 5, iPad mini and other upgrades last autumn.