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.
MacDailyNews Note: The analysts’ consensus estimates called for $5.84 EPS on revenue of $25.00 billion (vs. Q310 results of $3.51 EPS on revenue of $15.70 billion). On April 20, 2011, Apple CFO Peter Oppenheimer provided the following guidance: “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.”
Apple 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, in the press release. “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, in the press releease. “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.”
MacDailyNews Take: Boom!
MacDailyNews Note: Apple shares (AAPL) to resume trading at 4:50pm EDT.
Mother Dunkers.
Cash bath! Profit bath! Units bath!
Sell AAPL? You can pry my AAPL shares from my cold dead hands (and even then I intend to be buried with them.)
“dismembered without anesthesia” is perhaps a more apt description of what happened
Watch it drop now because of the crested decline of iPods, even though iPhones hit 20 mil.
So iPods are declining in sales? Apple still sells a heck of a lot of them. MS would have been overjoyed to sell 7.5 million Zunes in a year, much less a quarter in decline. Apple will continue to upgrade and sell them for several more years.
And every iPhone and iPad is also an iPod. iPods ain’t going anywhere. The name might be different but they’re going to be around for a while.
Actual footage of Apple releasing it’s financial results.
Exactly!
@TimD
Fscking brilliant!
=:~)
The two best quarters lie ahead
gotta love their guidance for next quarter!
They almost DOUBLED YOY revenue?
Is that right? That’s just sick.
There was an attempt at FUD earlier with rumor talk of a CEO succession. Jobs came out of the woodwork and called it BS.
Nice try wall street!
If WSJ isn’t an acronym for WS integrity in Murdoch language, I don’t know what is.
I would have expected a stock price move one way or the other, but it seems to have just frozen right at announcement time. Still looks stuck at $376.29. What’s up with that?
Trading resumes in 5 minutes.
Oh… nevermind. I see the stock trading was halted until 4:50ET…
Tsunami
and competitors must be quaking in their boots! Hey where’s our buddy Marco today??
Bloodbath 2u Eric T. Mole u Backstabbing Bastard.
Alrighty… here we go… cracked $400 and rising.
The CNBC talking heads were stunned. One guy said they knew to expect more from Apple’s guidance but that the number even blew away what they were expecting beyond that. Fun to watch.
9.25 m iPads in one quarter? (In Dick Vitale voice) Are you kidding me?! Motorola and RIM would’ve been happy with .25 m in one quarter. Apple’s playing at a whole different level here. It’s Apple’s death star against Android’s potato guns.
“death star vs potato guns”
LMFAO
$well!!!
Bloody h*ll, it just hit $400!!! Gotta get some Cuban cigars to celebrate!
SIDAGTMBTTS!
Hey Mickey, how’s that prediction looking these days?
=:~)
Why they waited for Lion. Slam the press with off the hook earnings reports–next day hit em with Lion release. All the free press you could want.
PR masters at work.
Lion out tomorrow.
I haven’t been able to listen/read the report, just skim through the MDN article.
Did they confirm lion tomorrow?
Yup!
A resounding message to Wall Street manipulators !!!
$76b in cash now. Holy fscking shit.
lol….Steve can officially buy Portugal now.
After hours trading AAPL broke $400 per share.
Well smack my thigh and tickle my ribs.
Good job Apple.
———————————
Good design is innovative
Good design makes a product useful
Good design is aesthetic
Good design makes a product understandable
Good design is unobtrusive
Good design is honest
Good design is long-lasting
Good design is thorough down to the last detail
Good design is environmentally friendly
Good design is as little design as possible
Dieter Rams
The profits we are seeing today are most definitely a result of the above.
Thank you Marco. You forgot your LOL though, hard to take you serious without that.
Hey, where are all the pundits telling us that these great results can only mean THE END IS NEAR for Apple? Doooom! Doom, I say!!
KenC is right.
Apple has larger revenues, larger net profits, larger marketcap, larger revenue and net profit growth rates than Microsoft.
Apple is now $100 billion bigger than Msft in marketcap. Apple has so much CASH saved up it can buy Dell twice over.
I don’t believe for a moment that the CFO really expects revenue of $25 billion next quarter, any more than I believe that he really expected revenue of $23 billion this quarter. He shouldn’t be allowed to get away with making misleading statements to investors just because they are on the underside. If he has this sort of casual attitude to the truth when times are good, how would he act when under financial pressure?
Under promise (worst case scenario) and over deliver. As a long time stock holder, I’ve been happy with this style for the last 11 years or so. Under financial pressure, I’d expect him to lowball still.
I’m sure our old pal Ballmer T Clown is sitting in his chair saying…”I like our strategy. I like it a lot!”
@Phillip,
When a certain SAn Diego based law firm quits initiating shareholder class action lawsuits when Apple doesn’t make all it’s numbers, than and only then will Apple be able to give other than lowball estimates.
And Apple INCREASES the UK prices of Apps!
Who IS in charge of the asylum?