Apple rose to yet another earnings record in their Q3 2011.
Apple announced yesterday after the market closed their highly anticipated Q3 2011 earnings numbers. As expected Apple beat the street's estimates and set several records. Apple 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% compared to 39.1% in the year-ago quarter. International sales accounted for 62% of the quarter’s revenue.
Don't Miss: Latest Science and Medical Discoveries
Apple sold 20.34 million iPhones in the quarter, representing 142% unit growth over the year-ago quarter. Apple sold 9.25 million iPads during the quarter, a 183% unit increase over the year-ago quarter. The Company sold 3.95 million Macs during the quarter, a 14% unit increase over the year-ago quarter. Apple sold 7.54 million iPods, a 20% unit decline from the year-ago quarter.
“We’re thrilled to deliver our best quarter ever, with revenue up 82% and profits up 125%,” 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.”
Besides the record sales of the iPad and iPhone, the steep 20% decline of iPod sales is standing out. The amount is still pretty high, but with the dramatic rise of smartphone adoption dedicated portable music players are just not as desired any more.
Now of course everybody can get excited about Apple's holiday quarter when iOS 5 and iCloud are out. The next quarter will mostly have to live on Mac sales pushed by the release of OS X Lion. OS X Lion is expected to be released today.