Apple post first profit fall in a decade
APPLE have posted their first yearly profit fall in a decade tonight.
The electronics giant revealed profit fell by £1.38 billion ($2.1bn) in the first three months of this year's to £6.27 bn ($9.56bn).
While profits were down, revenue was at a better than expected figure of £28.61bn ($43.6bn).
Tim Cook, Apple’s CEO, said: "Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline."
The California based company sold 37.4 million iPhones in the first three months of 2013, compared to 35.1 million for the same period a year ago.
Partly by raising debt, Apple will give into investors' demands that it share more of its record $145 billion cash pile.
Last week Apple's shares fell to below £262 ($400) for the first time since December 2011.
The company posted an all time high for their stock market value last September, but since then it has fallen by 40%.