Apple's first quarter 2011 financial results are out, and the company reports record Mac, iPhone, iPad sales and the highest revenue and earnings ever. Revenue grows 71% while earnings up 78%.
Here are the details:
- Record revenue of $26.74 billion and record net quarterly profit of $6 billion (compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion in the year-ago quarter).
- Gross margin was 38.5% (compared to 40.9% in the year-ago quarter).
- International sales accounted for 62 percent of the quarter's revenue.
- 4.13 million Macs sold, a 23% unit increase over the year-ago quarter (nearly 8 times the IDC numbers for PC growth).
- Mac sales driven by MacBook Air and MacBook Pro.
- Around a half of all Macs sold through stores are to first-time Mac owners.
- 16.24 million iPhones in the quarter, a 86% unit growth over the year-ago quarter.
- $10.74 billion worth of iPhones sold.
- Enterprise users continue to embrace iPhone.
- Demand outstripped supply of iPhone as Apple believes it could have sold more units had they had been available.
- 19.45 million iPods during the quarter, representing a 7% unit decline from the year-ago quarter.
- iPod touch sales grew 27% year-on-year.
- 7.33 million iPads sold during the quarter.
- iTunes stores generated $1.1 billion revenue.
- Apple Stores in China show highest traffic and revenue.
- Revenue and profits through the roof!
- Slight erosion of gross margins, but margins are so good Apple has no worries there.
- International sales hover around the two-thirds mark as expected and normal lately.
- Healthy boost in Mac sales ... folks were unwrapping a lot of Macs over the Holidays.
- Record iPhone quarter, comfortably beating the previous high last quarter which hovered just above the 14 million mark.
- Weak iPod sales, reinforcing the believe that everybody who wants one already has three.
- iPad sales on the up from previous quarter ...
- Total of 160 million iOS devices sold by the end of the quarter.
- Apple is now sitting on a $59.7 billion cash pile
We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales," said Steve Jobs, Apple's CEO. "We are firing on all cylinders and we've got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can't wait to get their hands on."
"We couldn't be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90."