Apple was expected to post a strong showing for its first fiscal quarter earnings release on Tuesday, courtesy of the iPhone 4S, and those iPhone sales came through.
Apple reported a fiscal first quarter net income of $13.06 billion, or $13.87 a share (statement). Non-GAAP earnings were $14.03 a share on a revenue of $46.33 billion.
Wall Street was expecting fiscal first quarter earnings of $10.08 a share on revenue of $38.85 billion.
More so, Apple posted all-time record sales for its iPhone, iPad and Mac lines. Here's a snapshot of the number of units sold for each brand during the last quarter:
- 37.04 million iPhones sold, a 128 percent increase over the first fiscal quarter of 2011
- 15.43 million iPads sold, a 111 percent increase
- 5.2 million Macs sold, a 26 percent increase
The only one that saw a significant decline was the iPod unit, with 15.4 million iPods sold -- a 21 percent decline from the year-ago quarter.
CEO Tim Cook commented in prepared remarks:
We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs. Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.
For the outlook, Apple is predicting a revenue of $32.5 billion at the end of the second fiscal quarter with earnings at $8.50 per share.