Apple Fiscal 2011 Third Quarter: iPhone Sales Grow 142 Percent, iPad Sales Grow 183 Percent

Apple just released financial results for its fiscal 2011 third quarter, and unsurprisingly, the company posted record sales: the company’s revenue skyrocketed to over $28 billion, and its profit jumped to over $7 billion. To put things in perspective, Apple’s revenue and profit were respectively $15.7 billion and $3.25 billion for the same quarter last year. Once again, Apple’s growth has been fueled by the success of iOS devices. The company sold over 20 million iPhones, representing 142 percent unit growth over the year-ago quarter, and sold over 9 million iPads during the quarter, a 183 percent unit increase over the year-ago quarter. According to Steve Job, “We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent. […] Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.” As for the iPod touch, Apple sold ‘only’ 7.54 million, a 20 percent unit decline from the year-ago quarter, which seems to imply that the device is being gradually overshadowed by the iPhone and the iPad. Apple Press Release CUPERTINO, California—July 19, 2011—Apple® today announced financial results for its fiscal 2011 third quarter ended June 25, 2011. The Company posted record quarterly revenue of $28.57 billion and record quarterly net profit of $7.31 billion, or $7.79 per diluted share. These results compare to revenue of $15.70 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share, in the year-ago quarter. Gross margin was 41.7 percent compared to 39.1 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue. The Company sold 20.34 million iPhones in the quarter, representing 142 percent unit growth over the year-ago quarter. Apple sold 9.25 million iPads during the quarter, a 183 percent unit increase over the year-ago quarter. The Company sold 3.95 million Macs during the quarter, a 14 percent unit increase over the year-ago quarter. Apple sold 7.54 million iPods, a 20 percent unit decline from the year-ago quarter. “We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent,” said Steve Jobs, Apple’s CEO. “Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.” “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,” said Peter Oppenheimer, Apple’s CFO. “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.” Apple will provide live streaming of its Q3 2011 financial results conference call beginning at 2:00 p.m. PDT on July 19, 2011 at www.apple.com/quicktime/qtv/earningsq311. This webcast will also be available for replay for approximately two weeks thereafter.