Apple announced Tuesday it’s best quarter in corporate history with earnings rising more than 117% to $13.06 billion, or $13.87 per diluted share, on record quarterly revenue of $46.33 billion.
The results compare to revenue of $26.74 billion and net quarterly profit of $6 billion, or $6.43 per diluted share, in the year-ago quarter. Gross margin was 44.7 percent compared to 38.5 percent in the year-ago quarter. International sales accounted for 58 percent of the quarter’s revenue.
“We are very happy to have generated over $17.5 billion in cash flow from operations during the December quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2012, which will span 13 weeks, we expect revenue of about $32.5 billion and we expect diluted earnings per share of about $8.50.”
Apple sold an all-time high 37.04 million iPhones in the quarter, representing 128% unit growth over the year-ago quarter, in addition to a record 15.43 million iPads – a 111% unit increase.
The Cupertino-based company also sold 5.2 million Macs during the quarter, a 26 percent unit increase over the year-ago quarter, and another record benchmark. Meanwhile, iPod sales came in at 15.4 million units, a 21 percent unit decline.
“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” said Tim Cook, Apple’s CEO. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”
Quick notes of interest:
– This makes Apple the largest smartphone company.
– It also makes Apple the largest PC manufacturer.
– Apple now has about 100 billion in cash.
– There are 550,000 apps available for iOS, including more than 170,000 for iPad.
– Apples “hobby” TV has sold more than 2.8 million in FY11.
– iOS developers will have earned over 4 billion by the end of this month.
These are just a few bulletpoints from the earnings call. To get all the info, please visit the Investor Relations Website of Apple.
– That’s roughly 93 million iPhones sold in 2011. More than the combined sales from 2007 to 2010. This is truly amazing. Just looking at the last three months of FY11…37 million sold…sold, not shipped. That’s 2 million more sold, than Samsung shipped. Think about that for a minute.
– The 13 billion in profit is 4 billion more than Googles revenue last quarter. I know it’s somewhat unfair to compare the two companies, because of their completely different business models, but it is interesting nonetheless.