Apple Q1 2011 Financial Results Record Revenue of $26.74 Billion, Sold 7.33 Million iPads

Apple has posted financial results for its fiscal 2011 first quarter ended December 25, 2010. According to Apple record revenue of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share. These results compare 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. Also Apple sold 7.33 million iPads, 16.24 million iPhones and 4.13 million Macs.

Gross margin was 38.5 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.

Steve Jobs, Apple’s CEO, said “We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales. 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.”
“We couldn’t be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90.”


Apple sold 4.13 million Macs during the quarter, a 23 percent unit increase over the year-ago quarter. The Company sold 16.24 million iPhones in the quarter, representing 86 percent unit growth over the year-ago quarter. Apple sold 19.45 million iPods during the quarter, representing a seven percent unit decline from the year-ago quarter. The Company also sold 7.33 million iPads during the quarter.


Here a Detailed Overview:
- Revenue $26.7 billion, increase over $11 billion over year
- Income $6 billion, over $1,7 billion from year ago quarter
- Strong demand of new MacBook Air
- Strong sales of Mac Pro
- Mac App Store available in 90 countries, doing well with over 1000 apps available
- iPod share remains at over 70% in market, iPod top selling in most countries
- iTunes: $1.1 billion revenue
- iTunes users are renting over 400,000 TV show episodes, 150,000 movies per day
- Enterprise: 88 of Fortune 100, 60% of Financial Times Europe testing or deploying iPhones
- Fortune 500, Wells Fargo, Dupont, Staples, Starbucks made iPhone available to employees
- iPad now available in 46 countries
- 160 million iOS devices sold to date
- Over 80% of Fortune 500 are deploying or piloting iPad
- Apple retail: revenue $3.85 billion
- 851,000 Mac sold at Apple retail stores, half sold to new customers
- 323 stores worldwide, 87 outside US
- 75.7 million customers in Apple retail stores
- Four stores in China with highest traffic and highest revenue
- Apple has $59.7 billion in cash now
- $22 billion in revenue expected for next quarter, 38.5% expected gross margin

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