Apple profits surge 125% on record sales of 20.34M iPhones, 9.25M iPads
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 quarterâs 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.
âWeâre thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent,â said Steve Jobs, Appleâs CEO. âRight now, weâre very focused and excited about bringing iOS 5 and iCloud to our users this fall.â
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.
âWe 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,â said Peter Oppenheimer, Appleâs CFO. âLooking 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.â