Bite of the Sweet Apple: Posts Record Revenues & Profits Q3 2011

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Apple, the world’s biggest and most valuable fruit tech company continues its impressive run in the third quarter ending June 25, 2011, with a record quarterly revenue of $28.57 and record quarterly net profit of $7.31 billion, or $7.79 per diluted share.  This translates to an impressive 82 percent hike in revenue and 125 percent increase in profits, beating its own estimates. In Q2 2011, the company said they expected revenue of about $23 billion and diluted earnings per share of about $5.03 in the third fiscal quarter of 2011.

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Apple sold 20.34 million iPhones in the quarter, representing 142 percent unit growth over the year-ago quarter. Apple also sold 9.25 million iPads, a 183 percent unit increase over the year-ago quarter. Not to be outdone, Macs saw some 3.95 million units shipped during the quarter, a 14 percent unit increase over the year-ago quarter. iPods continue its decline, with 7.54 million units sold, 20 percent down from the year-ago quarter. In total, Apple sold a whopping 222 million iOS devices.

“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.”

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Apple should see a strong Q4 with new MacBook Airs, MacPros, Mac OS X Lion and possible new iPhones and iPods coming.

For the full financial quarterly report, visit Apple.com.

[spoiler title=”Show Official Press Release”]
All-Time Record Revenue and Earnings

iPhone Sales Grow 142 Percent; iPad Sales Grow 183 Percent

CUPERTINO, California-July 19, 2011-Apple® today announced financial results for its fiscal 2011 third quarter ended June 25, 2011. The Company posted 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. Gross margin was 41.7 percent compared to 39.1 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.

The Company sold 20.34 million iPhones in the quarter, representing 142 percent unit growth over the year-ago quarter. Apple sold 9.25 million iPads during the quarter, a 183 percent unit increase over the year-ago quarter. The Company sold 3.95 million Macs during the quarter, a 14 percent unit increase over the year-ago quarter. Apple sold 7.54 million iPods, 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.”

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“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.”
[/spoiler]

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  • Vernon

    Founder + Chief Editor

    Vernon is the founder and chief editor of Vernonchan.com. A graphic designer by profession, he has a deep love for technology, cars, gadgets, food, and travel. He tweets too much and is also known as a caffeine bacterium ("life's too short for bad coffee"). Bleeds Blue (go Chelsea FC!) and considers BMW, Porsche, Alfa Romeo cars to have in the garage--for true petrolheads, that is.

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