The Cupertion, Calif. comapny Apple on Tuesday, October 18, said it earned $6.62 billion, or $7.05 per share, compared to net income of $4.31 billion, or $4.64 per share, last year. Adding, the company said "a 54 percent profit jump on a 39 percent increase in revenue was recorded."
Revenue grew to $28.27 billion from $20.34 billion a year ago. Wall Street was expecting $7.38 per share in earnings on revenue of $29.7 billion.
The big disappointment in the quarter was in iPhone sales of 17.07 million units, up 21%, but below the 20 million that had been expected.
This time the company said it expects calendar fourth-quarter earnings of $9.30 per share, compared to $9.03 that analysts have projected.
It said revenue for the current period should be $37 billion, compared to analyst expectations of $36.7 billion.
"Apple sold 17.07 million iPhones in the quarter, representing 21% unit growth over the year-ago quarter. Apple sold 11.12 million iPads during the quarter, a 166% unit increase over the year-ago quarter. The Company sold 4.89 million Macs during the quarter, a 26% unit increase over the year-ago quarter. Apple sold 6.62 million iPods, a 27% unit decline from the year-ago quarter," revealed Apple.
"We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion," said Tim Cook, Apple's CEO. "Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline."
Here are the numbers:
- $28.7 billion in Q4 revenue
- $6.62 billion in Q4 net profit
- $7.05 per diluted share
- 17.1 million iPhones sold in Q4
- 11.12 million iPads sold in Q4
- 6.6 million iPod sales sold in Q4
- 18 billion App Store downloads
- 180 million iBookstore downloads
- 6 million Lion downloads, since its release this summer
- 4.89 million Macs sold in Q4
- $10.7 million average revenue per Apple Store
- $108 billion in revenue for fiscal year, 66% growth over FY10
- 77.5 million Apple Store visits in Q4
- 16% of Apple's revenue came from China
- 500,000 apps available on the App Store, available in 23 countries
- Apple has $81.6 billion cash available
- 13% of Apple's revenue from retail
- iPhone sales up 21% year over year
- 93% of Fortune 500 deploying or testing iPhones
- Apple set a $37 billion guidance for fiscal Q1 (holiday)
- 16 billion songs downloaded from iTunes
- iPad 2 available in 90 countries
- 25 million iOS device sold in Q4
- 357 Apple Stores world-wide
- $3.6 billion in revenue from Apple Stores
- iPod still has >70% share in U.S. 10 years after introduced
- Apple plans to add 40 new Apple Stores next Q, 3/4 outside of U.S.
- All five stores combined in China have the most traffic
- iPhone 4S available in 7 countries, 22 more on their way
- 30 new Apple stores were added in Q4