Apple posted record quarterly revenue of $28.57 billion and record quarterly net profit of $7.31 billion, or $7.79 per diluted share in companies financial results for fiscal 2011 third quarter ended June 25, 2011.
A year ago, the company reported revenue of $15.7o billion and $3.25 billion net quarterly profit, or $3.51 per share. Gross margin was 41.7% compared to 39.1% in the year-ago quarter. International sales accounted for 62% of the quarter's revenue.
"The Company sold 20.34 million iPhones in the quarter, representing 142%, unit growth over the year-ago quarter. Apple sold 9.25 million iPads, a 183% unit increase. The Company sold 3.95 million Macs, a 14% unit increase. Apple sold 7.54 million iPods, a 20% unit decline from the year-ago quarter."
Q3 2011 Revenue by Product
- Desktops: $1.58 billion, up 21 percent from $1.3 billion a year earlier.
- Portables: $3.525 billion, up 14 percent from $3.1 billion a year earlier.
- iPod: $1.325 billion, down 14 percent from $1.55 billion a year earlier.
- Music: $1.571 billion, up 29 percent from $1.2 billion a year earlier.
- iPhone: $13.31 billion, up 150 percent from $5.33 billion a year earlier.
- iPad: $6.046 billion, up 179 percent from $2.17 billion a year earlier.
- Peripherals: $517 million, up 31 percent from $396 million a year earlier.
- Software & Services: $696 million, up 8 percent from $646 million a year earlier.
Apple's press release quotes Apple founder and CEO as saying, "Right now, we're very focused and excited about bringing iOS 5 and iCloud to our users this fall." The press release gave no information in today's press release on when the next version of the iPhone or its next iPod refresh will be released, although it's possible the company could talk about those plans during its conference call with analysts which should happen later today."
"We're extremely pleased with our performance which drove quarterly cash flow from operations of $11.1 billion, an increase of 131% year-over-year," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the Q4 of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50."
During today's conference call, Oppenheimer also revealed that Mac OS X 10.7 "Lion" launches tomorrow.
Oppenheimer also announced major accounting changes, which started June 6. Because of software updates and services delivered over time, including Lion, Apple is deferring $22 per Mac over three years. Apple also is deferring $16 per iPad and $11 per iPod touch over two years.
[Source: Apple Press]