Business
Apple Q3'11: Record revenue and earnings (again)
Apple announced blockbuster revenue and earnings today for the third quarter of fiscal 2011, ended June 25, 2011. The financial results represent an 82 percent increase in revenue and a 125 percent increase in profits.
Here's the summary:
- Revenue of $28.57 billion (compared to $15.70 billion in year-ago quarter)
- Net profit of $7.31 billion, or $7.79 per diluted share (compared to $3.25 billion, $3.51 per share)
- Gross margin was 41.7 percent (compared to 39.1 percent)
- International sales accounted for 62 percent of the quarter’s revenue
- Sold 3.95 million Macs (14 percent unit increase)
- Sold 20.34 million iPhones (142 percent unit growth)
- Sold 7.54 million iPods (20 percent unit decline)
- Sold 9.25 million iPads (183 percent unit increase)
Our own Larry Dignan noted on BTL that Apple topped iPhone expectations by nearly 4 million units and iPad units were also well ahead of estimates.
- Oppenheimer talked about a product transition in the September quarter that may hamper margins. He didn’t give any further details.
- The company cited enterprise strength for the iPhone and iPad.
- There is some cannibalization of the MacBook from the iPad 2.
You can listen to a rebroadcast of the conference call on the Apple Investor Relations website.