iPhone the Main Driver of Apple's Success in June Quarter
Technology giant Apple has reported it sold 20.34 million iPhones in the quarter, representing 142 percent unit growth over the year-ago quarter. The Cupertino company today announced financial results for its fiscal 2011 third quarter ended June 25, 2011. It 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.
Aside from its massive smartphone figures, Apple has also sold 9.25 million iPads during the quarter, a 183 percent unit increase over the year-ago quarter. Sales for Macs reached 3.95 million during the quarter, a 14 percent unit increase over the year-ago quarter. iPods were valued at 7.54 million, 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.”