Apple announced blockbuster revenue and earnings today for the third quarter of fiscal 2011, ended June 25, 2011. The financial results represent an 82 percent increase in revenue and a 125 percent increase in profits.
Here's the summary:
- Revenue of $28.57 billion (compared to $15.70 billion in year-ago quarter)
- Net profit of $7.31 billion, or $7.79 per diluted share (compared to $3.25 billion, $3.51 per share)
- Gross margin was 41.7 percent (compared to 39.1 percent)
- International sales accounted for 62 percent of the quarter’s revenue
- Sold 3.95 million Macs (14 percent unit increase)
- Sold 20.34 million iPhones (142 percent unit growth)
- Sold 7.54 million iPods (20 percent unit decline)
- Sold 9.25 million iPads (183 percent unit increase)
Our own Larry Dignan noted on BTL that Apple topped iPhone expectations by nearly 4 million units and iPad units were also well ahead of estimates.
- Oppenheimer talked about a product transition in the September quarter that may hamper margins. He didn’t give any further details.
- The company cited enterprise strength for the iPhone and iPad.
- There is some cannibalization of the MacBook from the iPad 2.