Apple's just shared their earnings report for the first quarter of fiscal year 2011, and, well, they did pretty well for themselves. Revenue for Q1 managed to reach $26.74 billion, with profits of $6 billion, both of which were records for the company. iPhone sales grew to 16.24 million in Q1, while iPad sales increased to 7.33 million. Additionally, Mac sales reached 4.13 million and there were also 19.45 million iPods sold. All products, except for the iPod, broke sales records in Q1. You can check out the full press release down below.
Considering that the first quarter of Apple's fiscal year include the holidays, many expected the company to put up strong numbers, but I'd say that they exceeded even those expectations. iPhone sales were good, and while I'm not sure if we'll see the higher numbers next quarter, I'm sure the Verizon iPhone launch will help boost sales of Apple's handset. The number of iPad sales is what surprised me, but the device's popularity just goes to show that tablets have finally broken into the mainstream. It's about time.
Apple Reports First Quarter Results
Record Mac, iPhone, iPad Sales Drive Highest Revenue and Earnings Ever
Revenue Grows 71 Percent; Earnings Grow 78 Percent
CUPERTINO, California—January 18, 2011—Apple® today announced financial results for its fiscal 2011 first quarter ended December 25, 2010. The Company posted record revenue of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share. These results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion, or $3.67 per diluted share, in the year-ago quarter. Gross margin was 38.5 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
Apple sold 4.13 million Macs during the quarter, a 23 percent unit increase over the year-ago quarter. The Company sold 16.24 million iPhones in the quarter, representing 86 percent unit growth over the year-ago quarter. Apple sold 19.45 million iPods during the quarter, representing a seven percent unit decline from the year-ago quarter. The Company also sold 7.33 million iPads during the quarter.
“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” said Steve Jobs, Apple’s CEO. “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.”
“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.”
(Image via Edible Apple)