Apple's flat quarterly earnings beat estimates

San Francisco, Jan 24 (IANS) Apple Wednesday reported flat earnings in its most recent fiscal quarter, and the result slightly beat analysts' estimates.

In its fiscal 2013 first quarter that ended in December 2012, Apple posted a net profit of $13.1 billion, the same as the year-ago period, reported Xinhua.

Earnings per share were $13.81, compared to $13.87 in the same quarter of the previous year.

Apple's revenue in the quarter reached $54.5 billion, representing an increase of nearly 18 percent year on year.

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