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.
"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: