Politics 24 April 2013 Apple's problem? No new products First profit fall in a decade. Sign up for our weekly email * Print HTML Apple's results are out, and although the company posted its first profit fall in a decade it still beat analyst expectations - boosting its share buyback programme by $50bn and making $9.5bn over the quarter. Here's Business Insider's breakdown of results vs expectations: Revenue: $43.6 billion billion versus $42.3 billion analysts' estimate EPS: $10.09 versus $9.98 analysts' estimate Gross margin: 37.5% versus 38.5% analysts' estimate iPhone: 37.4 million versus 36.5 million analysts' estimate iPad: 19.5 million versus 18.3 million analysts' estimate Mac: Just under 4 million million versus 4.1 million analysts' estimate iPod: 5.6 million versus 6.25 million analysts' estimate June quarter revenue: $33.5-$35.5 billion versus $38.6 billion analysts' estimate June quarter gross margin: 36%-37% versus 38.6% analysts' estimate Cash balance of $145 billion But why the profit fall? Several theories are being tossed around. These are: 1. Apple Maps. The fiasco (bridges collapsed, a park in Ireland became an airport, normally land-bound cities ended up in the sea). The awfulness of the maps was fairly damaging to the company, particuarly as it had been given such a high-profile release. 2. John Browett's approach to Apple Stores. Apple's new recruit, brought in under Tim Cook, decided to save money on staff in these important showrooms. It was not a success and he was quickly fired. 3. iCloud problems. The storage feature is more expensive than Google's version, and has created way more problems for users - audiobooks, for example, cannot be replaced if accidently deleted. 4. A lack of "buzz". When you get down to it, Apple's problems are mostly to do with lack of new products. It has been six months since Apple released anything new, and there is as yet no sign of the rumoured Apple "iWatch", the super-TV set, or even the iPhone with the larger screen, that would be able to compete with Samsung's 5in Note. There's an edited transcript of what Tim Cook had to say about the results here. › SpaceX Grasshopper makes its highest flight yet Photograph: Getty Images Subscribe from just £1 per issue More Related articles Jeremy Corbyn has found a vulnerable spot on Theresa May and trade Politicians are worried that their pensions are destroying the planet. Is yours? Nap Store: Where did all these new mattress start-ups come from?