Apple posts record revenue thanks to 142% iPhone and 183% iPad growth
Apple yesterday it’s earnings for its 2011 third fiscal quarter and, per usual, completely blew away analyst estimates. Not only that, but Apple posted all-time highs in both revenue and earnings, a feat made even more remarkable given that it was done in the third fiscal quarter. Indeed, it makes you wonder how Apple will do during this year’s holiday quarter.
Onto the results:
For the quarter gone by, Apple posted revenue of $28.57 billion and profits of $7.31 billion. EPS came in at $7.79. Notably, most Wall St. estimates pegged Apple’s quarterly EPS to be in the sub $6 range.
But good numbers aren’t enough to satiate investors, they want to see growth, and Apple unquestionably delivered. Compared to the same quarter a year-ago, Apple’s revenue rose by 82% while profits rose by 125%. For a company as large and as profitable as Apple, those figures are arguably unprecedented – especially given Apple’s long history of consistently besting Wall St. estimates by a large margin.
Anchoring Apple’s impressive quarter were strong iPhone and iPad sales.
Specifically, Apple sold 20.34 million iPhones and 9.25 million iPads, representing 142% and 183% growth respectively. Read that again – iPhone sales increased by 142% and iPad sales increased by 183%. It almost seems that there should be a new word to describe Apple’s penchant for recording unbelievably amazing results. Meanwhile, rivals are still churning out iPad competitors that are doing little to nothing to to really give the iPad a real challenge.
Mac wise, Apple sold 3.95 million units. As for the iPod, sales continued to decline with 7.54 million units sold, representing a 20% decline from the same quarter a year-ago. Tim Cook did note during Apple’s earnings conference call that iPod Touch sales now account for over half of all iPod sales. Still, there’s no hiding the fact that while the iPod may have restored Apple to prominence, it’s the iPhone and iPad that constitute the real future of the company.
