Tuesday, July 19, 2011, 01:35 pm PT (04:35 pm ET)
Apple profits surge 125% on record sales of 20.34M iPhones, 9.25M iPadsApple said Tuesday that third-quarter profits rose nearly 125% percent to $7.31 billion, or $7.79 per diluted share, on record quarterly sales of $28.57 billion for the three-month period ended June 25, 2011.
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 and international sales accounted for 62 percent of the quarters revenue.
Shares of Apple responded to the news by surging more than 7%, or $26.48, to a new all-time high of $403.33.
Were thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent, said Steve Jobs, Apples CEO. Right now, were very focused and excited about bringing iOS 5 and iCloud to our users this fall.
During the three-month period from April to June, the Cupertino-based electronics maker sold a record 20.34 million iPhones, representing 142% unit growth over the year-ago quarter. Apple also shipped record 9.25 million iPads during the quarter, a 183% unit increase over the year-ago quarter.
Sales of the company's Mac personal computers came in just shy of 4 million at 3.95 million, a 14 percent unit increase over the year-ago quarter. Meanwhile, iPods continued their expected decline, falling 20 percent unit wise from the year-ago quarter to 7.54 million units.
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, Apples 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.
Apple will be holding its quarterly conference call in just a few minutes. As always, AppleInsider will provide running coverage.
On Topic: Investor
- UBS praises Apple CEO Tim Cook for thinking 'big,' pushing for iOS to become ubiquitous
- Apple, Inc. bought back another $5 billion of $AAPL stock in Q3 as shares rose 20%
- RBC ups Apple price target to $110 in anticipation of 'busy fall' for iPhone & 'iWatch'
- Wall Street on Apple's 'uneventful' June quarter: Excited by margins, concerned about guidance
- Notes of interest from Apple's Q3 2014 conference call