Tuesday, April 24, 2012, 01:30 pm PT (04:30 pm ET)
Apple profits surge 94% on sales of 35.1M iPhones, 11.8M iPadsApple on Tuesday announced its best-ever second fiscal quarter, as the company saw its earnings rise 94 percent to $11.6 billion, or $12.30 per diluted share, on quarterly revenue of $39.19 billion.
The results compare to revenue of $24.7 billion and net profit of $6.0 billion, or $6.40 per diluted share, in the year-ago quarter. Gross margin was 47.4 percent compared to 41.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarters revenue.
The Company sold 35.1 million iPhones in the quarter, representing 88 percent unit growth over the year-ago quarter. Apple sold 11.8 million iPads during the quarter, a 151 percent unit increase over the year-ago quarter. The Company sold 4 million Macs during the quarter, a 7 percent unit increase over the year-ago quarter. Apple sold 7.7 million iPods, a 15 percent 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, Apples 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, Apples CFO. "Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68."
Apple will provide live streaming of its Q2 2012 financial results conference call beginning at 2:00 p.m. PDT on April 24, 2012 at apple.com/quicktime/qtv/earningsq212, and AppleInsider will have full live coverage.
On Topic: Investor
- Wall Street impressed by Apple's surprise second quarter, analysts see stock headed to new highs
- Tim Cook: Angela Ahrendts to join Apple next week, thanks outgoing CFO Peter Oppenheimer
- Apple's Q2 iPhone sales boom, carry declining iPad performance
- Notes of interest from Apple's Q2 2014 conference call
- Apple announces 7-for-1 stock split, buybacks bumped to $90 billion