Apple makes a killing in profit

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Steve Jobs, Apple's CEO

Apple announced financial results for its fiscal 2011 third quarter ended June, and they posted record quarterly revenue of $28.57 billion and record quarterly net profit of $7.31 billion.

These results compare to revenue of $15.70 billion and net quarterly profit of $3.25 billion, in the year-ago quarter. Gross margin was 41.7% compared to 39.1% in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.

“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.”

The Company sold 20.34 million iPhones in the quarter, representing 142 percent unit growth over the year-ago quarter, while they also sold 3.95 million Macs during the quarter, a 14% unit increase over the year-ago quarter. With that, they also managed to shift 7.54 million iPods, a 20% unit decline from the year-ago quarter.


“We are extremely pleased with our performance which drove quarterly cash flow from operations of $11.1 billion, an increase of 131% 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.”