Apple Posts Staggering Record Third Quarter Results
Apple has just now posted its official third quarter results, and the figures as expected go way beyond what even the most bullish of analysts were predicting, with the company posting a record quarterly revenue of $28.57 billion and record quarterly net profit of $7.31 billion, or $7.79 per diluted share. These results compare to revenue of $15.70 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share in the year-ago quarter. The gross margin was 41.7 percent compared to 39.1 percent in the year-ago quarter. Apple says that international sales accounted for 62 percent of the quarter’s revenue.
Apple sold 20.34 million iPhones in the quarter, representing 142 percent unit growth over the year-ago quarter, and 9.25 million iPads in the quarter, a 183 percent unit increase over the year-ago quarter. It also sold 3.95 million Macs in the quarter, which was a 14 percent increase over the year-ago quarter. The number of iPods sold totalled 7.54 million, a 20 percent unit decline from the year-ago quarter.
"We're thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent," said Steve Jobs, Apple's CEO. "Right now, we're very focused and excited about bringing iOS 5 and iCloud to our users this fall."
"We are extremely pleased with our performance which drove quarterly cash flow from operations of $11.1 billion, an increase of 131 percent year-over-year," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50."