Apple Breaks Sales and Earnings Records
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Apple had record sales and earnings for its second fiscal quarter of 2011 ended March 26. In fact, the figures were nearly double the same quarter last year, the company announced Wednesday.
Sales were particularly strong for iPhones and iPads during the quarter, officials told financial analysts on a call following Apple's (NASDAQ: AAPL) announcement after financial markets closed.
Second quarter revenues came in at $24.67 billion, up from $13.5 billion for the same quarter last year. The same was true of profits. Apple turned in $5.99 billion in profit for the quarter as opposed to $3.07 Billion in the year-ago quarter.
Meanwhile, Apple posted diluted earnings per share (EPS) of $6.40 versus $3.33 EPS during last year's second quarter.
In the quarter, Apple sold 18.65 million iPhones, a 113 percent unit growth from the comparable quarter last year, and 4.69 million iPads, CFO Peter Oppenheimer, told the analysts. He did not disclose what the mix was between the older iPad 1 and the iPad 2, which shipped in March, but said the company could have sold more iPad 2s during the quarter if it could have built enough of them.
The company's other main products performed nearly as well.
For example, Apple sold 3.76 million Macs during the quarter, a jump of 28 percent from the year ago quarter. However, the company sold only 9.02 million iPod music players during the period, a decline of 17 percent from a year ago.
Despite that letdown, though, officials had plenty of reasons to smile.
"With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders," Steve Jobs, Apple CEO, said in a statement.
Jobs, who is on medical leave from the company, was not on the call but officials said he remains active in Apple.
"We do see him on a regular basis and he's still involved," COO and acting CEO, Tim Cook, said in response to an analyst's question.
In answer to another question CFO Oppenheimer said he foresees no components shortages during the current fiscal quarter due to the Japanese earthquake and tsunami, but couldn't guarantee such problems couldn't happen in future quarters.
For the current --third -- fiscal quarter, Oppenheimer said he expects the company to bring in revenues of $23 billion and diluted EPS of around $5.03.