14 DAY TRIAL // During its Q1 2011 financial conference call yesterday, Apple announced the results for its fiscal 2011 first quarter ended December 25, 2010, posting record revenue of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share.
According to the Mac maker, these results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion ($3.67 per diluted share) from the year-ago quarter.
This year’s Q1 saw Apple achieve a gross margin of 38.5 percent which, last year, was 40.9 percent.
Cupertino also said that international sales accounted for 62 percent of the quarter’s revenue. Of those:
· Macs sold 4.13 million units during the quarter - a 23 percent unit increase over the year-ago quarter.
· iPhone sold 16.24 million units in the quarter - an 86 percent unit growth over the year-ago quarter
· iPod sold 19.45 million units during the quarter - a seven percent unit decline from the year-ago quarter
· iPad sold 7.33 million units during the quarter - no comparison to the year-ago quarter, since the device hadn’t been launched yet, but we can safely say it’s “off to a great start”.
“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” said Steve Jobs, Apple’s CEO.
Mr. Jobs recently announced that Apple’s board of directors granted him a medical leave of absence to deal with some health issues.
“We are firing on all cylinders and we’ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can’t wait to get their hands on,” Jobs added.
“We couldn’t be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter,” said Peter Oppenheimer, Apple’s CFO.
“Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90,” added Oppenheimer.
Apple provided live streaming of its Q1 2011 financial results conference call on January 18, 2011 at www.apple.com/quicktime/qtv/earningsq111.
As usual, Apple will make the webcast available for replay for approximately two weeks thereafter at the same address.