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Apple's Q2 profit soars on strong iPhone sales

IDG News Service | April 20, 2011
Apple's revenue and profit soared in its fiscal second quarter ended March 26, buoyed by strong iPhone sales, the company said Wednesday.

Apple's revenue and profit soared in its fiscal second quarter ended March 26, buoyed by strong iPhone sales, the company said Wednesday.

Apple reported a net profit of $5.99 billion for the quarter, growing from the $3.07 billion profit reported a year earlier. The company reported earnings per share of $6.40.

The company reported revenue of $24.67 billion, compared with $13.50 billion in the year-earlier quarter. Analysts polled by Thomson Reuters had expected revenue of $23.38 billion for the second quarter.

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

AT&T was the exclusive seller of the iPhone in the U.S. until this quarter, when Verizon Wireless also started selling the device. Apple shipped 18.65 million iPhones during the quarter, up 113% from a year earlier.

In addition, Apple began shipping the iPad 2 in the U.S. on March 11, and in 25 other countries on March 25. Apple shipped 4.69 million iPads during the quarter, compared with 7.33 million iPads sold in the previous quarter. The first iPad went on sale in April of last year.

Macintosh computer shipments totaled 3.76 million, growing 28% year over year. However, iPod shipments declined by 17%, totaling 9.02 million during the quarter.

 

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