Topic: Enterprise Software

Apple Q3 financials - All-time record revenue and earnings

Summary: Apple has released its Q3 financials ... and guess what? The company announced all-time record revenue and earnings.

By Adrian Kingsley-Hughes for Hardware 2.0 | July 20, 2011 -- 03:23 GMT (20:23 PDT)

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Apple has released its Q3 financials ... and guess what? The company announced all-time record revenue and earnings.

Here are the highlights:

Record quarterly revenue of $28.57 billion (compare to $15.70 billion in the year-ago quarter)
Record quarterly net profit of $7.31 billion (compare to $3.25 billion, or $3.51 in the year-ago quarter)
Gross margin was 41.7% (up from 39.1% in the year-ago quarter)
International sales accounted for 62% of this quarter's revenue
20.34 million iPhones sold (a 142% unit growth over the year-ago quarter)
9.25 million iPads sold (a 183% unit growth over the year-ago quarter)
3.95 million Macs sold (a 14% unit increase over the year-ago quarter)
7.54 million iPods (a 20% unit decline from the year-ago quarter)

Some points to take away from this:

iPad now bigger than Mac in terms of unit sales, selling twice as many iPads as Macs
Every iPad Apple could make in the quarter was sold
This was a record quarter for iPhone and iPad sales
222 million iOS devices sold in all, up from 200 million last month
iPod sales are shrinking, but the iPod still dominates some 70% of the music player market
Mac has outpaced PC sales for the 21 consecutive quarter

Some quotes. First, from CEO Steve Jobs:

“We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125%. Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”

Peter Oppenheimer, Apple’s CFO:

“We are extremely pleased with our performance which drove quarterly cash flow from operations of $11.1 billion, an increase of 131 percent year-over-year. Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50.”

Topics: Enterprise Software, Apple, Banking

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21 comments

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RE: Apple Q3 financials - All-time record revenue and earnings

Kudos to Steve Jobs and the great minds that work at Apple. Quite an accomplishment in this economy.

gtdworak
20 July, 2011 05:44

Reply Vote
RE: Apple Q3 financials - All-time record revenue and earnings

I would have made more money investing around $10,000 in stocks [when I bought my first mac]. The stocks were less $40. Now it has grown 10x. Kudos to Apple for such stellar numbers. Looks like they are the only American company growing in large numbers.

browser.
20 July, 2011 06:00

Reply Vote
- RE: Apple Q3 financials - All-time record revenue and earnings
  
  @browser.
  they are stealing people's money and stifling innovation.
  
  Linux Geek
  20 July, 2011 06:39
  
  Reply Vote
  - RE: Apple Q3 financials - All-time record revenue and earnings
    
    @Linux Geek
    But But Android is winning...
    
    Hasam1991
    20 July, 2011 07:48
    
    Reply Vote
  - RE: Apple Q3 financials - All-time record revenue and earnings
    
    @Linux Geek Let me paraphrase your post so everyone gets what you are saying...
    
    "I'm a whiny little baby that hates Apple and can not handle the fact they are doing so well."
    
    I do feel sorry for your mother though. She is not going to get any sleep tonight listening to you ball your eyes out down in the basement.
    
    non-biased
    20 July, 2011 08:25
    
    Reply Vote
RE: Apple Q3 financials - All-time record revenue and earnings

The sales have gone up because you can finally have a iphone or tablet on the Verizon Network.

mayhap
20 July, 2011 08:22

Reply Vote
Congratulations

Apple has earned their success, they deserve their spot.

Michael Alan Goff
20 July, 2011 08:43

Reply Vote
- RE: Apple Q3 financials - All-time record revenue and earnings
  
  @goff256
  I would rather called them modern thief's
  
  AdnanPirota
  20 July, 2011 09:07
  
  Reply Vote
  - RE: Apple Q3 financials - All-time record revenue and earnings
    
    No.
    
    They found a market, they figured out what people want, and they're giving them what they want. Nobody can fault them for it.
    
    Michael Alan Goff
    20 July, 2011 09:17
    
    Reply Vote
  - RE: Apple Q3 financials - All-time record revenue and earnings
    
    @AdnanPirota
    
    Exactly what did they steal? Also, Nokia, Motorola, and Microsoft sued Apple LONG before Apple sued them back or offensively litigated in the IP realm.
    
    See what I think is going on with your short, pathetic post is that you know and cannot stand the fact that Apple is winning the mobile market in every conceivable way other than the one way in which Android can claim superiority -- activations.
    
    Who gives a crap if you've got twice the number of activations when each activation is worth a tenth to Android what they're worth to iOS.
    
    seraph82
    20 July, 2011 13:29
    
    Reply Vote
  - RE: Apple Q3 financials - All-time record revenue and earnings
    
    @seraph82
    
    On a carrier to carrier basis, Android is not winning on activations, either.
    
    DeusXMachina
    21 July, 2011 01:35
    
    Reply Vote
People are stupid...

buying several copies of iToys instead of doing productive work on Asus Netbooks!

MSFTWorshipper
20 July, 2011 09:23

Reply Vote
- RE: Apple Q3 financials - All-time record revenue and earnings
  
  @MSFTWorshipper
  
  Well then I guess I didn't get the "you cant be productive in the mobile space" memo -- I grabbed one of these (http://www.zagg.com/accessories/logitech-ipad-2-keyboard-case) and use it w/ my iPad2 to do plenty of DB and Linux environment management on live services that process millions of dollars worth of transactions daily.
  
  Would it kill MSFT to innovate nowadays?
  
  seraph82
  20 July, 2011 13:27
  
  Reply Vote
- RE: Apple Q3 financials - All-time record revenue and earnings
  
  @MSFTWorshipper
  Productive work on netbooks?!?
  Maybe on Win 7 notebooks, but very little productivity takes place on netbooks.
  
  DeusXMachina
  21 July, 2011 01:37
  
  Reply Vote
RE: Apple Q3 financials - All-time record revenue and earnings

What an American success story!

Mosblest
20 July, 2011 09:49

Reply Vote
- RE: Apple Q3 financials - All-time record revenue and earnings
  
  @Mosblest
  
  Success built on the lives of the poor. Ask the factory workers what they think about Apple.
  
  Rob.sharp
  20 July, 2011 15:00
  
  Reply Vote
  - RE: Apple Q3 financials - All-time record revenue and earnings
    
    @rob.sharp@...<br><br>They have, troll. The Foxconn jobs on the Apple line are COVETED positions, as Apple is one of the few companies with minimal pay and worker treatment standards.<br>But don't let fact interfere with your trolling.
    
    DeusXMachina
    21 July, 2011 01:38
    
    Reply Vote
Finances.

I was part of a satellite system that linked Tokyo to Washington for a video conference on business. The Japanese representative came to his microphone, bowed politely and then said something that has stuck with me for years afterwards: "Our companies are run by Engineers and Technicians whereas yours are run by Lawyers and Accountants. Do not blame us for being successful while you are failing." Well, you could hear a pin drop after that one. Someone once said that if you look after the details, the money will look after itself. Maybe it's true.

trm1945
20 July, 2011 10:14

Reply Vote
- More to that story
  
  @trm1945 I worked for a US division of a global giant Japanese company for 7 years, visited several facilities in Japan, and inevitably gained some insight into their personal and business culture. The reason you could hear a pin drop after that remark was because everyone, Japanese and American, was in shock. Such a remark would be considered grossly rude in that context, and I dare say everyone on that call knew it. I also imagine it was personally satisfying to that speaker--briefly, but not when his (had to be a male) upper management got back to him about his behavior. And his immediate transfer to some undesirable outpost.
  
  To the facts of his comment: (disclaimer--I am a graduate engineer with a top school MBA, tempered by 40 years in large and small companies) there is some truth to it, but very few US top execs are lawyers or accountants, they just get a lot more "input" from those two VPs than they do in Japan. On the other hand, Japanese companies have traditionally given more esteem to Human Relations executives than to IT honchos (and the company I worked for was huge in computers), not the case in most US firms, wouldn't you agree?
  All that aside, "if you look after the details, the money will look after itself" is almost always true, and Apple seems to have greatly benefitted from looking after design details, fit and finish like no other, precise supply chain management, attention to customer service like no other, awareness of what specifically customers like and want in products and in the retail experience, and on and on.
  Best of all, all of us consumers benefit--as Apple has raised the bar in so many areas, and competitors have had to respond with better products and services. We get more and better choices, and companies that create ancillary products and services win, too. Who would have thought 10 years ago how much money would be made, and jobs created, by third-party companies selling covers, cases, peripherals and apps for Apple devices? Pretty amazing, if you ask me.
  
  frabjous
  24 July, 2011 20:09
  
  Reply Vote
RE: Apple Q3 financials - All-time record revenue and earnings

What they don't report is the litigation costs that have been charged off against their profits. Apple will continue to sue to get to the top, destroy competition and halt technical innovation.

BGlines
20 July, 2011 16:04

Reply Vote