Apple profits grow an astounding 95% in Q2 of 2011

It's almost not even fair. With an uncanny ease, Apple continues to earn money hand over fist with unprecedented consistency. Apple yesterday released its earnings for the second quarter of 2011 and delivered EPS of $6.40 on revenue of $24.67 billion.

It's almost not even fair. With an uncanny ease, Apple continues to earn money hand over fist with unprecedented consistency.

Apple yesterday released its earnings for the second quarter of 2011 and delivered EPS of $6.40 on revenue of $24.67 billion. During the same quarter last year, Apple posted EPS of $3.33 on revenue of $13.50 billion. Profit wise, Apple's net profits for the quarter came in at $5.99 billion compared to $3.07 billion during the Q2 of 2010.

Take that in for a second.

Year over year, Apple's revenue grew by 83% while its profits increased by a jaw-dropping 95%.

“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders,” Apple CEO Steve Jobs said in a press release. “We will continue to innovate on all fronts throughout the remainder of the year."

Driving Apple's amazing quarter were impressive iPhone sales of 18.7 million units, a 113% increase from the year-ago quarter when the Cupertino-based company sold 8.75 million iPhones. These sales, no doubt, were bolstered by the addition of the CDMA iPhone 4 on Verizon. Earlier today, Verizon announced that they activated 2.2 million iPhones during the quarter gone by. All told, the iPhone accounted for approximately 50% of Apple's total revenue.

Also impressive were Apple's Mac sales, which came in at 3.76 million units. During the same quarter a year-ago, Apple sold 2.94 million Macs, representing 28% unit growth year over year. While the rest of the PC industry is experiencing a downward trend in sales, Apple's new line of MacBook Air and MacBook Pro models helped Apple outpace the rest of the industry yet again.

One of the more anticipated figures from Apple's earnings report were its iPad sales. For the quarter gone by, Apple reported iPad sales of 6.3 million units, significantly lower than the 7.33 million figure anticipated by analysts on Wall St. Tim Cook, however, did note that Apple sold every single iPad 2 they manufactured during the quarter, and it's entirely possible that sales were lower than expected due to trouble meeting insatiable demand for Apple's next-gen tablet.

Note, though, that iPad sales have already surpassed Mac sales. That's arguably unheard of for a device that's only 1 year old.

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Copyright © 2011 IDG Communications, Inc.

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