Apple today announced financial results for its fiscal 2011 second quarter ended March 26, 2011. The Company posted record second quarter revenue of $24.67 billion (vs. analyst consensus estimate of $23.38 billion) and record second quarter net profit of $5.99 billion, or $6.40 per diluted share (vs. $5.37 EPS). These results compare to revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share, in the year-ago quarter. Gross margin was 41.4 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter’s revenue.
Apple sold 3.76 million Macs during the quarter, a 28 percent unit increase over the year-ago quarter. The Company sold 18.65 million iPhones in the quarter, representing 113 percent unit growth over the year-ago quarter. Apple sold 9.02 million iPods during the quarter, representing a 17 percent unit decline from the year-ago quarter. The Company also sold 4.69 million iPads during the quarter.
“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders,” said Steve Jobs, Apple’s CEO, in the press release. “We will continue to innovate on all fronts throughout the remainder of the year.”
“We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion,” said Peter Oppenheimer, Apple’s CFO, in the press release. “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” (vs. $5.25).
Source: Apple Inc.
MacDailyNews Take: Bloodbath.
That represents an 83% jump in revenue over the $13.5 billion in sales Apple saw during the same quarter of 2010.
in the historical slowest quarter of the year.
Hint: Xmas
😀
“all aboard” AAPL is about to leave the station and is headed for higher ground. Next stop Mount Everest.
Boom at Apple, Inc.
Windows’ Glass falling outside Ballmer’s office.
Despite the phenomenal record earnings I bet the Street will punish Apple for the lower than predicted iPod and iPad volume.
Hopefully the brokers will surprise me and do the right thing. This stock should be up to $400 by now.
The notion that AAPL always falls after earnings is a myth perpetuated by fanboy whiners with a persecution complex. It’s been about half and half as far as post earnings activity.
The bottom line is, it doesn’t matter what happens in the 48 hours after earnings, its just going to continue to rise for those who are long on it.
Typically, the stock performance after an earnings report is driving by the upcoming quarter guidance provided by Apple, compared to what the “analysts” expected Apple to announce. Since Apple typically guides very conservatively, the “analysts” are “disappointed” and the stock price goes down. Judging by the after-hours performance, that “low” guidance is being disregarded by the buyers and focusing on the real numbers – which were scary 😉
Yes, but they only sold 4.7 million iPads (1 & 2) – well below the expected 7 million. Truth be told, had they been able to produce 7 million, they would have sold 7 million. Well, let’s hope they can ramp up their production.
Still, all in all, a very good quarter!
Truth be told they only had 15 days in the whole quarter to sell ipad2, AND everyone knew it was a comin’ so ipad1 sales took a very natural header.
Inventory dropped 400k, so ACTUAL SELLTHRU was 5.1M.
Monkey Boy took the day off.
So are we pretty sure this quarter is the one Apple finally surpasses MS in quarterly earnings? Or is MS going to massage the numbers again to stay just ahead?
Actually, I believe the Street is just waking up to the fact that Apple is for real.
I’d like to see them replace Microsoft in the Dow Jones, which is the bench mark for my vindication.
@ MDN Take. “Bloodbath” is more appropriate for a story about Apple destroying the competition, not a story about Apple destroying it’s own year-ago numbers. 🙂
The top-5 nonaffiliated analysts, Zaky, Muller, Dediu, Tello and Leitao averaged EPS of $6.35. Actual EPS was $6.40. As I’ve said before, these guys are good!
That’s why I continue to be an AFB member since 2005. The analysis by these unpaid experts is top notch. No paid analyst has come close to them on a consistent basis.
And BTW, maybe now all the Apple-hating naysayers can crawl back into their holes. I’m so sick of these pseudo-experts who pop up on various blogs with their amateurish reasons why Apple will fail. Get a life, Bozos.
Rounding error.
LIKE
Every SINGLE ONE of the 40 or so Pro analysts who follow apple: Goldman Sachs, RBC, Morgan Stanley, Piper Jaffray etc estimated Apple’s EPS too low. Not one predicted over 6.
and people like these project WP7 will overtake iPhone by 2015, iPad will be less than 50% of the market etc.
meanwhile the un affiliated (pro-Apple) guys like Dediu (estimate 6.43) of Asymco got it pretty close.
I’m am now talking offers from Wall Street firms that want to not suck at predicting Apple’s financial performance.
http://themacadvocate.com/2011/04/20/tmas-predictions-for-apples-2q-financials-the-verdict/
Thisis easily the best run through a recession in the history of U.S. business. Imagine if this was a period of very strong economy. We are seeing something that may never be equaled again in this country or any other.
MDN you once again forgot to mention an important item… Apple sold 50% less iPads this quarter! This is big news…. 8 million last quarter compared to 4.5 million this time around. That’s a huge drop!
You forgot to consider Apple was getting ready to launch iP2, which probably froze sales of the original iPad this past month.
iP2 has been selling for a couple of weeks so maybe they only accounted for a couple million. Not to worry though they’ll sell a boatload this quarter.
Nice try
If you really believe that why are you on a Mac site?
Hey Monkey Boy, can u say “Matanza”
(Munch on that 4 a Change)
“We will continue to innovate on all fronts throughout the remainder of the year.”
Sounds like a war to me. Wouldn’t want to be on the other side.
It’s not a war and it’s not a sports game. Typical American pseudo-macho metaphors. Phones, computers, gadgets are Not “Killers.”
It’s business. And Apple is great.
apparently Marco is looking for the bad news in Apple’s financials. Wall Street sees something else……….and it shows