Wednesday, April 20, 2011

Apple Inc. (NASDAQ: AAPL): Q2 2011 Earnings Roundup

Apple Inc. (NASDAQ: AAPL) reported late Wednesday that its fiscal second quarter profit jumped to $5.99 billion, or $6.40 per share, from $3.07 billion, or $3.33 a share, in the year-earlier quarter. Revenue surged to $24.67 billion from $13.50 billion. Analysts, on average, expected the company to report earnings of $5.35 per share on revenue of $23.27 billion.

Apple sold 3.76 million Macs during the quarter, a 28 percent unit increase over the year-ago quarter. The Company sold 18.65 million iPhones in the quarter, representing 113 percent unit growth over the year-ago quarter. Apple sold 9.02 million iPods during the quarter, representing a 17 percent unit decline from the year-ago quarter. The Company also sold 4.69 million iPads during the quarter.

"With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders," said Steve Jobs, Apple's CEO. "We will continue to innovate on all fronts throughout the remainder of the year."

"We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the third fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $5.03."

Apple shares rallied more than 2% in Wednesday's after-hours trading.

Full Disclosure: None.
Related Posts with Thumbnails

Wikinvest Wire