Apple's Q1'2011 Results Records 'Revenue Grows 71%, Earnings Grow 78%'

Apple today announced financial results for its fiscal 2011 first quarter ended December 25, 2010. The Company posted record revenue of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share. These results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion, or $3.67 per diluted […]

Apple today announced financial results for its fiscal 2011 first quarter ended December 25, 2010. The Company posted record revenue of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share. These results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion, or $3.67 per diluted share, in the year-ago quarter. Gross margin was 38.5% compared to 40.9% in the year-ago quarter. International sales accounted for 62% of the quarter's revenue.

Apple sold 4.13 million Macs during the quarter, a 23% unit increase over the year-ago quarter. The Company sold 16.24 million iPhones in the quarter, representing 86% unit growth over the year-ago quarter. Apple sold 19.45 million iPods during the quarter, representing a seven percent unit decline from the year-ago quarter. The Company also sold 7.33 million iPads during the quarter.

iPhone Sales Graph

"We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales," said Steve Jobs, Apple's CEO. "We're firing on all cylinders and we've got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can't wait to get their hands on."

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