Apple Reports Record-Breaking Q3 2011: $7.31 Billion Profit on $28.57 Billion in Revenue

MacRumors · Jul 19, 2011

Apple today announced financial results for the second calendar quarter and third fiscal quarter of 2011. For the quarter, Apple posted revenue of $28.57 billion and net quarterly profit of $7.31 billion, or $7.79 per diluted share, compared to revenue of $15.7 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share, in the year-ago quarter. Gross margin was 41.7 percent, compared to 39.1 percent in the year-ago quarter, and international sales accounted for 62 percent of the quarter's revenue. Apple's quarterly profit and revenue were both company records.

Apple shipped 3.95 million Macintosh computers during the quarter, a unit increase of 14 percent over the year-ago quarter. Quarterly iPhone unit sales reached 20.34 million, up 142 percent from the year-ago quarter, and the company also sold 7.54 million iPods during the quarter, representing 20 percent unit decline over the year-ago quarter. Apple also sold 9.25 million iPads during the quarter, up 183 percent over the year-ago quarter.

"We're thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent," said Steve Jobs, Apple's CEO. "Right now, we're very focused and excited about bringing iOS 5 and iCloud to our users this fall."

Apple's guidance for the fourth quarter of fiscal 2011 includes expected revenue of $25 billion and earnings per diluted share of $5.50.

Apple will provide live streaming of its Q3 2011 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Article Link: Apple Reports Record-Breaking Q3 2011: $7.31 Billion Profit on $28.57 Billion in Revenue

aeaglex07 · Jul 19, 2011

According to Eric Schmidt this has nothing to do with innovation

MacsRgr8 · Jul 19, 2011

Apple in a decade.... just unbelievable!

iMikeT · Jul 19, 2011

Why oh why didn't I buy a month ago when shares were trading at $315?

Popeye206 · Jul 19, 2011

OMFG! Wow... didn't expect that! Amazing growth!

Torrijos · Jul 19, 2011

Eric Schmidt minions are googling "profits".

iPhisch · Jul 19, 2011

9.25 million iPads? that's pretty sick. i wonder how many BB PlayBooks were sold last quarter? can we have some Lion meat now?

longofest · Jul 19, 2011

Apple's gross margin continues to amaze me. Once again, it has gone UP (to over 40%).

Even more amazing possibly is that Apple's revenue guidance for Q4, historically LOW, is 25 billion, 5 billion HIGHER than what they actually brought in last year. Should be a good quarter...

Serelus · Jul 19, 2011

Suprised? I think not :apple:

.

dethmaShine · Jul 19, 2011

iPhisch said:
9.25 million iPads? that's pretty sick. i wonder how many BB PlayBooks were sold last quarter? can we have some Lion meat now?

9.25 milli BB playbooks.

smiddlehurst · Jul 19, 2011

Good lord... that's verging on unbelievable!

Big stand out figure for me is iPad sales. 9.25 million while they're still supply-limited is a hell of a performance, would love to know what that would do to Apple's overall sales ranking if the analysts started counting them like they should do, as computers.

And it's not as if they're slowing down either... that iPhone figure was for a model that's a year old by now so there's a new version to come very soon, iOS 5 and iCloud coming out in September, OS X Lion due very soon (tomorrow I hope), probably revised and improved Air's due very soon... future looks very bright indeed.

Edit Sorry for the edit but just realised this was technically for a quarter that saw, what, new iMac's and that's about it? Every other product I think didn't see a major change in the quarter (please correct me if I'm wrong on that). Granted they were ramping up on iPad 2 but still... There's a part of me that wonders if other smartphone makers are going to look at the iPhone figures and its age and wonder if maybe, just maybe, three to six month product cycles ain't the way to go.

dethmaShine · Jul 19, 2011

Just for quote:

'iPhone is dead in the water'

I should be saying:

'iPhone spills blood in the water'

------------------------------------------------------------------

$7.79 per diluted share?

WOW! That's > $1 more than the average expectation by amateurs and > $2 more than the average expectation by the pros. This is getting hot.

S.Jobs · Jul 19, 2011

Steve is fine

Steve is at every Apple event these days! I thought he was on medical leave. He just wanted a vacation

Popeye206 · Jul 19, 2011

iPhisch said:
9.25 million iPads? that's pretty sick. i wonder how many BB PlayBooks were sold last quarter? can we have some Lion meat now?

RIM is calling both customers now to thank them for their loyalty.

benthere16 · Jul 19, 2011

Buy now

Why oh why didn't I buy a month ago when shares were trading at $315?

Buy stock now, it's only going up for the foreseeable future. iOS 5, new iPhone and iCloud are going to push Apple through the stratosphere.

Jerome Morrow · Jul 19, 2011

Apple

benthere16 said:
Buy stock now, it's only going up for the foreseeable future. iOS 5, new iPhone and iCloud are going to push Apple through the stratosphere.

To the infinity and beyond

GeekLawyer · Jul 19, 2011

In a word, wow.

Apple... · Jul 19, 2011

Wirelessly posted (Mozilla/5.0 (iPod; U; CPU iPhone OS 4_3_3 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8J2 Safari/6533.18.5)

Holy sh*t!

MartinH · Jul 19, 2011

wow

Amazing

daneoni · Jul 19, 2011

Unsurprising. Why didn't i buy Apple stock in the 90s.

Zdb · Jul 19, 2011

Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_0 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.0.2 Mobile/9A5259f Safari/6533.18.5)

Will I be able to listen to the conference call on my iPhone? Bc my work blocks installing QuickTime

LagunaSol · Jul 19, 2011

Yet still the stock will sputter. What happened to the stock the last time Apple announced a barn-burning quarter? Not much.

Apple needs to split the stock and get regular Joes investing in it again - not merely institutional investors who love to play with the buttons and levers.

neiltc13 · Jul 19, 2011

Torrijos said:
Eric Schmidt minions are googling "profits".

They found it, in their own earnings release.

Despite their products being almost entirely software, they managed to show earnings of $2.51bn for the same period - not bad for a company that didn't even exist just over 10 years ago.

hppy29 · Jul 19, 2011

International sales accounted for 62 percent of the quarter's revenue!

And one new Apple Store every 50 hours for the next two months... they really are pushing international sales!!!!

50548 · Jul 19, 2011

aeaglex07 said:
According to Eric Schmidt this has nothing to do with innovation

SIMPLY SPECTACULAR. What else can be said? Apple should start donating some money to bankrupt US, because they seem to be the only company doing a good job there.

MS IS DEAD. AND SO IS GOOGLE.

GO APPLE!

Apple Reports Record-Breaking Q3 2011: $7.31 Billion Profit on $28.57 Billion in Revenue

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