Apple revenues miss expectations as iPhone sales disappoint

Friday 24th May

Posted at 8:20AM Thursday 24 Jan 2013

Computing giant Apple has reported flat profits and record revenues that still fell short of market expectations.

Net profit came in at $13.1bn (£8.7bn), unchanged from a year earlier due in part to higher costs associated with new product launches.

Revenue was up 18% at $54.5bn, thanks to record sales of iPhones and iPads, the company said.

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