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Record quarter for Apple as iPad & iPhone sales soar


Electricals retailer Apple has reported record quarterly revenue of $28.57 billion (£17.77 billion) for the third quarter of its financial year, fuelled by continued impressive sales of its iPhone and iPad products.

Some 20.34 million iPhones were sold during the three-month period, representing 142 per cent rise year-on-year, while 9.25 million iPads were snapped up over the same period.

Apple’s net profit in Q3 was $7.31 billion, or $7.79 per diluted share, compared to $3.25 billion and $3.51 per diluted share in the same quarter last year.

Trading remained resilient for Apple’s more established products, the Mac and iPod, while there is already huge demand from consumers and businesses alike for the company’s soon-to-be-released iOS 5 operating system and iCloud multichannel storage tech device.

Steve Jobs, Apple CEO, commented: “We’re thrilled to deliver our best quarter ever, with revenue up 82 per cent and profits up 125 per cent.

“Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this autumn.”

The third-quarter statement also revealed that gross margin was 41.7 per cent, up from 39.1 per cent during the same period last year.

International sales, including those in the UK, accounted for 62 per cent of Apple’s quarterly revenue.

Peter Oppenheimer, Apple’s Chief Financial Officer, added: “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.

“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.”

Published on Wednesday 20 July by Editorial Assistant

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