Apple Reports Q2 2012 Results With Net Profit Increase of 94%
Apple has just released its financial results for its fiscal 2012 second quarter, ending March 31, 2012, posting quarterly revenue of $39.2 billion and quarterly net profit of $11.6 billion, or $12.30 per diluted share. The results compare very favourably to revenue of $24.7 billion and net profit of $6.0 billion, or $6.40 per diluted share in the year-ago quarter. The gross margin was 47.4% compared to 41.4% in the year-ago quarter, with international sales accounting for 64% of the quarter’s revenue.
To break those figures down, Apple sold 35.1 million iPhones in the quarter, which is actually better than many analysts were expecting, and 11.8 million iPads, which is a little less than had been expected, but still represents a 151% unit increase over the year-ago quarter. Four million Macs were sold in the quarter, representing a 7% increase. The iPod was the only Apple product to report a fall, with a figure of 7.7 million iPods sold – a 15% unit decline from the year-ago quarter.
“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” said Tim Cook, Apple’s CEO. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”
“Our record March quarter results drove $14 billion in cash flow from operations,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”