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Wednesday, July 20, 2011
Apple Posts Strong Results Boosted By Record iPhone, iPad Sales

Apple's March quarter was impressive with the company to post a 83% revenue growth and 95% profit growth, lifted by record iPhone sales, which grow 113%.

Apple's financial results for its fiscal 2011 second quarter included a record second quarter revenue of $24.67 billion and record second quarter net profit of $5.99 billion. These results compare to revenue of $13.50 billion and net quarterly profit of $3.07 billion, in the year-ago quarter. Gross margin was 41.4 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter's revenue, the company said.

Apple sold 3.76 million Macs during the quarter, a 28 percent unit increase over the year-ago quarter. The company sold 18.65 million iPhones in the quarter, representing 113 percent unit growth over the year-ago quarter. The phone's popularity in Asia as well as the fact that Apple keeps expanding the number of carriers that sell the phone seems to help. Apple also sold 9.02 million iPods during the quarter, representing a 17 percent unit decline from the year-ago quarter. During the same period, the company also sold 4.69 million iPads - nearly double from a quarter ago.

"With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders," said Steve Jobs, Apple's CEO. "We will continue to innovate on all fronts throughout the remainder of the year."

Apple usually has the year's new iPhone model out by early July. Analysts expect the new model to come in September instead.

Some buyers may also have been holding off while waiting for Lion, the new version of the Mac OS X operating system. Apple confirmed that it will go on sale Wednesday.

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