Does the Lightning to 30-pin iPhone 5 adapter support audio out?

Yes, both analog and USB audio out are supported by the Lightning adapter. This means that older accessories using USB audio or analog audio input via the 30-pin dock connector should work with the iPhone 5 adapter.

As Apple states, some accessories will not work with the adapter. This is because the Lightning to 30-pin adapter does not support iPod mode or video out. iPod mode makes it possible for third party accessories to display menus from your iOS device on their screens.

Although the Lightning 8-pin reversible connector alone does not support analog audio out, the 30-pin dock connector adapters have a built-in digital to analog converter (DAC) to ensure that analog audio out is available to older iPhone accessories.