Apple Q3 financials - All-time record revenue and earnings
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.”