Apple FY11 Q2 financials - "We sold every iPad 2 we made during the quarter"

Summary: Highlights: Record March quarter, 83% revenue growth, 95% profit growth.

It's that time again - Apple announces its 2011 Q2 earnings.

Highlights: Record March quarter, 83% revenue growth, 95% profit growth.

Here are the numbers:

  • Record second quarter revenue of $24.67 billion (compared to $13.50 billion year-ago quarter) - Above expectation
  • Gross margin was 41.4% (compared to 41.7% year-ago quarter)
  • International sales accounted for 59%
  • 3.76 million Macs sold (28% unit increase compared to year-ago quarter) - Above expectation
  • 18.65 million iPhones sold (113% unit increase compared to year-ago quarter) - Above expectation
  • 9.02 million iPods sold, with iPod touch accounting for more than 50% of sales (17% unit decline compared to year-ago quarter) - Below expectation
  • 4.69 million iPads sold - Below expectation (numbers floated were in the 5.5 to 6.2 million range, but there's not much to go on to know what to expect - I wonder if the earthquake/tsunami in Japan didn't affect Apple's ability to keep up with demand ... ?)
  • Oppenheimer: "We sold every iPad 2 we made during the quarter."
  • iTunes revenue hit $1.63 billion
  • 20th consecutive quarter where Mac sales has outpaced PC sales
  • Over 100 million books in the iBooks store
  • 88% of the Fortune 500 are testing/deploying the iPhone

UPDATE: COO Tim Cook Says that the tragedy in Japan did no cause any material impact to component supply or costs in FY11 Q2 and don't expect problems in Q3, although there are some risks going forward as the situation is unpredictable, but contingency plans are in place.

Obligatory quotes:

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

Peter Oppenheimer, Apple's CFO: "We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion. Looking ahead to the third fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $5.03."

Charts for the visual of you out there:

Topic: Apple

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21 comments
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  • RE: Apple FY11 Q2 financials

    Kudos to Apple, nice job.
    daikon
    • RE: Apple FY11 Q2 financials

      @daikon

      3.76 million Macs sold!! that's more computers running MAC in 1 quarter than LINUX desktops in the last 10 years LOL
      Hasam1991
      • Edit: sorry, I miscalculated: Interestingly, both desktop and portable Macs

        @Hasam1991: EDIT: wrong, sorry: ... became much pricier, if you will look at the table that Adrian posted.
        DDERSSS
      • RE: Apple FY11 Q2 financials

        @denisrs

        Maybe I'm missing something. Which table shows Mac getting pricier?
        msalzberg
      • No, I miscalculated, sorry

        @msalzberg: average sold desktop price grew only from $1410 to $1428, and average sold portables' price grew from $1272 to $1285 -- what is nonsignificant at all.
        DDERSSS
    • EDIT: thanks for fixing//Adrian, you iPad cumulative sales are wrong

      EDIT: thanks for fixing.

      iPad cumulative sales are 19.4 million, not 16 million.<br><br>(Obviously, the first quarter of iPad's sales somehow got excluded from your data.)
      DDERSSS
  • RE: Apple FY11 Q2 financials

    There is a huge mistake in the above article: It should be "9.02 million iPods sold (17% unit decline compared to year-ago quarter) - Below expectation"

    iPods NOT iPhones. You've listed iPhones twice, and that is incorrect.
    ericshawn@...
    • RE: Apple FY11 Q2 financials

      @ericshawn@... FIXED ... thanks!
      Adrian Kingsley-Hughes
  • Typo

    [i]9.02 million iPhones sold (17% unit decline compared to year-ago quarter) - Below expectation [/i]

    I believe you meant to say iPods, not iPhones.
    P. Douglas
    • RE: Apple FY11 Q2 financials

      @P. Douglas ... FIXED ... thanks!
      Adrian Kingsley-Hughes
      • I guess all the excitement got to you

        @Adrian Kingsley-Hughes
        :)
        John Zern
      • It IS exciting.... Just when you think it

        @John Zern
        can't get any better for Apple... It does:P

        Pagan jim
        James Quinn
      • Well, I do watch and gauge when is the best time to sell

        @James Quinn
        Today's not the time :)
        John Zern
  • Sorry for the typo ...

    ... doing too many things at once!
    Adrian Kingsley-Hughes
  • RE: Apple FY11 Q2 financials

    Now if we can only get the breakdown on how many iPhones are GSM vs. CDMA. Sure 18+ million phones is great for a quarter, but break it down, so we know how many were Verizon and how many were AT&T. I asked how many WP7SOS phones were sold, now I am asking the same from Apple.
    Rick_K
  • A great result

    I suspect the increase might have finally put it ahead of that other competitor. That would be huge news!
    Richard Flude
    • What other competitor would that be?

      @Richard Flude
      Pretty open-ended statement. HP? Dell? Acer?
      John Zern
      • RE: Apple FY11 Q2 financials

        @John Zern
        Given verizon?s numbers today, I think it is safe to say that Apple has activated more iPhones on <b>One carrier in One Country</b> than The total for WP7SOS phones worldwide since its launch.
        Rick_K
    • RE: Apple FY11 Q2 financials

      @Richard Flude What are you talking about?
      Jimster480
  • Mac sales outpace PC sales??

    Since when does Apple sell more macs than all PC companies combined?? Marketshare says otherwise.
    Jimster480