Apple just announced its earnings for the second one quarter of the year, and it’s again beat estimates, with it reporting earnings of $6.40 a share, a complete of $24.67 billion in revenue, and a net profit of $5.99 billion. As for the sales breakdown, it sold a whopping 18.6 million iPhones within the quarter (up 113 percent over the former year, and prior to estimates of 16 million), plus 4.69 million iPads (actually not up to the anticipated 6.29 million, apparently by reason of supply issues), and three.76 million Macs, which represents a 28 percent hop over an identical quarter a year ago. Not surprisingly, iPods are the single area that continues to slow, with sales of 9.02 million representing a 17 percent decline over the former year. It’s also seeing huge growth within the Asia Pacific region, with revenue up a staggering 151 percent year over year.
Update: The corporate’s press release is after the break.
Record March Quarter Drives 83 Percent Revenue Growth, 95 Percent Profit Growth
Record iPhone Sales Grow 113 Percent
CUPERTINO, California-April 20, 2011-Apple® today announced financial results for its fiscal 2011 second quarter ended March 26, 2011. The corporate posted record second quarter revenue of $24.67 billion and record second quarter net profit of $5.99 billion, or $6.40 per diluted share. These results compare to revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share, within the year-ago quarter. Gross margin was 41.4 percent when compared with 41.7 percent inside the year-ago quarter. International sales accounted for 59 percent of the quarter’s revenue.
Apple sold 3.76 million Macs in the course of the quarter, a 28 percent unit increase over the year-ago quarter. The corporate sold 18.65 million iPhones within the quarter, representing 113 percent unit growth over the year-ago quarter. Apple sold 9.02 million iPods throughout the quarter, representing a 17 percent unit decline from the year-ago quarter. The corporate also sold 4.69 million iPads in the course of the quarter.
“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’re going to continue to innovate on all fronts within the rest of the year.”
“We’re extremely proud of our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion,” said Peter Oppenheimer, Apple’s CFO. “Awaiting the third fiscal quarter of 2011, we think revenue of about $23 billion and we predict diluted earnings per share of about $5.03.”
Apple will provide live streaming of its Q2 2011 financial results conference call beginning at 2:00 p.m. PDT on April 20, 2011 at www.apple.com/quicktime/qtv/earningsq211. This webcast may also be available for replay for about two weeks thereafter.
This press release contains forward-looking statements including without limitation those in regards to the Company’s estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the corporate’s reaction to these factors, on consumer and business buying decisions with respect to the corporate’s products; continued competitive pressures available to buy; the flexibility of the corporate to deliver to the marketplace and stimulate customer demand for brand spanking new programs, products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and/or increases in component costs may have at the Company’s gross margin; the inventory risk related to the corporate’s ought to order or decide to order product components earlier than customer orders; the ongoing availability on acceptable terms, or in any respect, of certain components and services necessary to the corporate’s business currently obtained by the corporate from sole or limited sources; the effect that the corporate’s dependency on manufacturing and logistics services provided by third parties will have at the quality, quantity or cost of goods manufactured or services rendered; risks related to the corporate’s international operations; the corporate’s reliance on third-party intellectual property and digital content; the capability impact of a finding that the corporate has infringed at the intellectual property rights of others; the corporate’s dependency at the performance of distributors, carriers and other resellers of the corporate’s products; the effect that product and repair quality problems will have at the Company’s sales and operating profits; the continuing service and availability of key executives and employees; war, terrorism, public health issues, natural disasters, and other circumstances that can disrupt supply, delivery, or demand of goods; and unfavorable result of other legal proceedings. Additional info on potential factors that may affect the corporate’s financial results is included every now and then within the “Risk Factors” and “Management’s Discussion and Analysis of monetary Condition and Result of Operations” sections of the corporate’s public reports filed with the SEC, including the corporate’s Form 10-K for the fiscal year ended September 25, 2010, its Form 10-Q for the quarter ended December 25, 2010, and its Form 10-Q for the quarter ended March 26, 2011 to be filed with the SEC. The corporate assumes no obligation to update any forward-looking statements or information, which speak as in their respective dates.
Apple designs Macs, one of the best personal computers on the earth, in conjunction with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the cell phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 that’s defining the way forward for mobile media and computing devices.
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