Apple Reports Record 1Q 2011: $6 Billion Profit on $26.74 Billion in Revenue

[MacRumors]

Apple today announced financial results for its first fiscal quarter of 2011, corresponding to the fourth calendar quarter of 2010. For the quarter, Apple posted revenue of $26.74 billion and net quarterly profit of $6 billion, or $6.43 per diluted share, compared to revenue of $15.68 billion and net quarterly profit of $3.38 billion, or $3.67 per diluted share, in the year-ago quarter. Gross margin was 38.5 percent, compared to 40.9 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 a record 4.13 million Macintosh computers during the quarter, a unit increase of 23 percent over the year-ago quarter. Quarterly iPhone unit sales reached a record 16.24 million, up 86 percent from the year-ago quarter, and the company also sold 19.45 million iPods during the quarter, representing 7 percent unit decline over the year-ago quarter. Apple also sold a record 7.33 million iPads during the quarter.

"We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales," said Steve Jobs, Apple's CEO. "We are firing on all cylinders and we've got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can't wait to get their hands on."

Apple's guidance for the second quarter of fiscal 2011 includes expected revenue of $22 billion and earnings per diluted share of $4.90.

Apple will provide live streaming of its Q1 2011 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights. Analysts will almost certainly ask about Apple CEO Steve Jobs' new medical leave of absence within the context of how it and any related changes will affect the company's business, although analysts and Apple officers will obviously touch on a number of other topics as well.

Article Link: Apple Reports Record 1Q 2011: $6 Billion Profit on $26.74 Billion in Revenue

 

[jav6454]

Horry cwap...

That's alot of dough to invest

 

[Kauai]

Let's hope a good chunk of this goes to innovation.

 

[haphadon]

Not bad, Not bad at all

And wow that is a TON of iPads for a device that was just launched less then a year ago!

 

[OllyW]

For the quarter, Apple posted revenue of $6 billion and net quarterly profit of $26.74billion

That's impressive (though ever so slightly impossible).

 

[ChazUK]

Wirelessly posted (Mozilla/5.0 (Linux; U; Android 2.2; en-gb; GT-P1000 Build/FROYO) AppleWebKit/533.1 (KHTML, like Gecko) Version/4.0 Mobile Safari/533.1)

Wow...

Amazing sales!

 

[philbeeney]

Apple posted revenue of $6 billion and net quarterly profit of $26.74 billion

Wow, that's some magical numbers right there.

 

[apple1990]

They never ceese to amaze me!

I predict a stock buyback, they don't need all that cash even if they are planning multiple, huge acquisitions.

 

[dampfnudel]

Let's hope a good chunk of this goes to innovation.

Based on the rumors about the upcoming iPad v2 and iPhone 5, I think it has.

 

[WildCowboy]

That's impressive (though ever so slightly impossible).

Wow, that's some magical numbers right there.

Ya, fixed now.

 

[yellow]

The number of Macs shipped boggles my mind.. and bodes well for my wallet!

 

[Benito]

I wish I hadn't bought stock on Friday and instead waited until this morning when the prices were down. Oh well, this news should really help.

 

[Frobozz]

I don't know why anyone wouldn't invest their money in Apple. I know Steve's health is a concern in a long term timescale, but they did just fine the last time Tim took over a the helm.

What other company in the world has such enormous growth potential as Apple? I seriously can't think of one.

 

[nylonsteel]

Yes - Thats my baby
Luv Ya aapl - Trading both ways

 

[elppa]

23 Million iOS devices minimum. The question is how many of those iPod's were iPod touch.

 

[Kauai]

That's impressive (though ever so slightly impossible).

Maybe Apple's been dabbling in a few other businesses we need to know about?

 

[Frobozz]

The number of Macs shipped boggles my mind.. and bodes well for my wallet!

Apple paid for a large chunk of my Condo down-payment on a very modest initial investment! ;-p

 

[NoExpectations]

Wow.....except for the Verizon part. Why would customers want an iPhone on Verizon that would connect 35% slower, remove multitasking, and have very limited global access? ....especially when the iPhone 5 is coming out in 4 months.

 

[GoodWatch]

Yes, very impressive but do any of you realise that this is the result of all of us agreeing to pay 'Apple tax'? What is Apple going to do with $51 billion in cash? Lowering prices? No. When will it be enough? $75 billion? $100 billion? When?

 

[deputy_doofy]

Apple stock has been good to me. Admittedly, I sold some today, but I only hold a SMALL amount of shares to begin with -- not enough to ever even buy a car with. However, it provides me "free" money to buy more Macs and other Apple stuff (and I kept a small amount remaining for the day AAPL hits $500 ).

 

[AldoRay]

Frigging amazing numbers, the iPad blew it out.

 

[deputy_doofy]

Yes, very impressive but do any of you realise that this is the result of all of us agreeing to pay 'Apple tax'? What is Apple going to do with $51 billion in cash? Lowering prices? No. When will it be enough? $75 billion? $100 billion? When?

As long as AAPL keeps rising (even slowly), then I don't care. If they ever stop growing, then yes, a dividend would be nice.

 

[Apple OC]

6 billion in profit ... not too bad ... and they are not slowing down at all

 

[spencers]

Wow.....except for the Verizon part. Why would customers want an iPhone on Verizon that would connect 35% slower, remove multitasking, and have very limited global access? ....especially when the iPhone 5 is coming out in 4 months.

Why do you care? Oh wait, you're trolling.
Leave that crap for another thread.

 

[infiniteentropy]

Apple continues to make me look like a champion for me when I insisted my money manager put a good chunk in on AAPL when it was around 80. Thanks !