Apple announced financial results for its fiscal 2011 third quarter ended June 25, 2011. The iPhone maker 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 per cent compared to 39.1 percent in the year-ago quarter. International sales accounted for 62 per cent of the quarter’s revenue.
Apple 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 per cent unit increase over the year-ago quarter. The Company sold 3.95 million Macs during the quarter, a 14 per cent 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 per cent and profits up 125 per cent,” 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 per cent 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 at www.apple.com/quicktime/qtv/earningsq311. This webcast will also be available for replay for approximately two weeks thereafter.