Apple posts record revenue figures but shares slump

Apple posted record revenue figures during the last quarter with the help of a raft of new products but shares dropped shortly after market open in the US.

It was the first period fully taking into account sales of the highly anticipated iPhone 5s and iPhone 5c, as well as marking the launch of the iPad Air and iPad mini.

Apple's revenues hit $57.6 billion (£34.8 billion) for the last three months of 2013, a new quarterly record for the company.

The iPhone 5S and the iPhone 5C.
The iPhone 5S and the iPhone 5C. Credit: REUTERS/George Frey

The firm also posted profits of $13.1 billion (£7.9 billion) were also made - equal with the record profits set 12 months previously.

Apple sold 51 million iPhones - a new high for the company, though short of forecasts peaking at 60 million - while iPad sales also set a new record of 26 million.

However, Apple's shares slumped by as much as 7.5% in the 30 minutes after trading in the US following the disappointing sales figures for the new iPhones.

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