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Posted by Alexander Bader on Jul 27, 2011
Apple Posts Record Revenue, Net Income

Apple Posts Record Revenue, Net Income

Apple reported Tuesday that revenue and profit rocketed to record highs during their most recent fiscal quarter as sales of iPhones and iPads blew up incredibly.

Apple said its net profit more than doubled to $7.31 billion on unprecedented revenue of $28.57 billion in an unbelievable quarter that came to a close on June 25. “We’re thrilled to deliver our best quarter ever, with revenue up 82 per cent and profits up 125 per cent,” Apple chief executive Steve Jobs said in a release. “Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.

The billion dollar company reported sales of more than 20.34 million iPhones and 9.25 million iPads, sales figures that eclipsed the same quarter last year by 142 per cent and 183 per cent respectively. Apple saw the number of Macintosh computers sold climb 14 per cent to 3.95 million, while iPod sales decreased 20 per cent to 7.54 million units.

“We are extremely pleased with our performance,” Apple CFO Peter Oppenheimer concluded. “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.”

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