Apple continues its impressive financial streak with another record-breaking fiscal quarter ending December 31, 2011. The Cupertino company posted a record quarterly revenue of $46.33 billion and record quarterly net profit of $13.06 billion ($13.87 per diluted share). This is almost double the results in the year-ago quarter. Gross margin increased from 38.5 percent in the year-ago quarter to 44.7 percent. International sales accounted for 58 percent of the quarter’s revenue. Apple generated over $17.5 billion in cash flow from operations.
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[quote]“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.”[/quote]
iPhones continue to be a huge cash cow for Apple, selling over 37 million iPhones in the quarter, a 128 percent unit growth over the year-ago quarter. Apple also sold 15.43 million iPads, a 111 percent increase over the year-ago quarter. Apple isn’t only about smartphones and mobile devices, though. Macs, much contributed by sustained interest in the iMac, enjoyed a 26 percent unit increase. Sales of iPods may have dwindled 21 percent compared to the year-ago quarter, but this still meant Apple pushing 15.4 million of the portable media player to consumers.
With another impressive quarter at hand, Peter Openheimer, Apple’s CFO lamented, “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’s momentum has also kicked Exxon as the world’s most valuable company, with a market capitalisation of $416.76B, beating the energy brand by $6 billion. The new King of Wallstreet (again) ploughs on!
[spoiler title=”Show Official Press Release”]
Apple Reports First Quarter Results
Apple will provide live streaming of its Q1 2012 financial results conference call beginning at 2:00 p.m. PST on January 24, 2012 at www.apple.com/quicktime/qtv/earningsq112. This webcast will also be available for replay for approximately two weeks thereafter.
This press release contains forward-looking statements including without limitation those about the Company’s estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; risks associated with the Company’s international operations; the Company’s reliance on third-party intellectual property and digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the Company’s dependency on the performance of distributors, carriers and other resellers of the Company’s products; the effect that product and service quality problems could have on the Company’s sales and operating profits; the continued service and availability of key executives and employees; war, terrorism, public health issues, natural disasters, and other circumstances that could disrupt supply, delivery, or demand of products; and unfavorable results of other legal proceedings. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 24, 2011 and its Form 10-Q for the fiscal quarter ended December 31, 2011 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
