Apple Q3 2011 earnings released: Impressive, most impressive. (Updated)
Apple hit another home run in the third quarter of 2011. Total revenue for the quarter reached US$28.57 billion, as compared to $15.70 billion in the same quarter last year. Earnings per diluted share were $7.79, as compared to $3.51 last year. Net profit reached a staggering $7.31 B. All of these figures crushed the professional analyst estimates and even surpassed some of the more optimistic amateur AAPL watchers, as tracked by Phil Elmer-Dewitt.
Sales numbers for Apple's lineup of products are as follows:
3.95 M Macs (14% year-over-year unit increase)
20.34 M iPhones (142% yoy increase)
7.54 M iPods (20% yoy decrease)
9.25 M iPads (183% yoy increase)
That earnings per share number is really quite amazing; it's more than double the number from last year. Additional details will be available in the earnings conference call at 5 pm ET. We'll be listening in to the conference call and liveblogging all the fun -- join in!
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Apple Reports Third Quarter Results
All-Time Record Revenue and Earnings
iPhone Sales Grow 142 Percent; iPad Sales Grow 183 Percent
CUPERTINO, Calif.--(BUSINESS WIRE)--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.
"Right now, we're very focused and excited about bringing iOS 5 and iCloud to our users this fall."
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.
