Apple today announced record 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 16.24 million iPhones in the quarter, representing 86 percent unit growth over the year-ago quarter. The company also sold 4.19 million iPads during the quarter.
“We’re thrilled to report our best quarter ever, with revenue up 67 percent and earnings up 78 percent,” said Steve Jobs, Apple’s CEO. “We shattered all previous records during the quarter, and we’re very excited about our new product pipeline for 2011.”
Peter Oppenheimer, Apple’s CFO, added, “We are extremely pleased with the strong performance of our business, generating $9.8 billion in cash flow from operations during the December quarter. Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and diluted earnings per share of about $4.90.”
Key Highlights:
- iPhone sales increased by 86% year-over-year.
- iPad sales reached 4.19 million units.
- International sales accounted for 62% of the quarter’s revenue.
Apple’s performance significantly exceeded analysts’ expectations, solidifying its position as a leading technology company.
