Apple Q3 2011

Apple sells 20.34 million iPhones, 9.25 million iPads and 3.95 million Macs in their Q3 2011. This result compare to revenue of $15.70 billion and net quarterly profit of $3.25 billion or $3.51 per diluted share and also international sales accounted for 62 percent of the quarter’s revenue………………


Apple announced financial results for its fiscal 2011 third quarter ended June 25, 2011. The Company posted record quarterly revenue of $28.57 billion and record quarterly net profit of $7.31 billion, or $7.79 per diluted share. These results compare to revenue of $15.70 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. International sales accounted for 62 percent of the quarter’s revenue. The Company sold 20.34 million iPhones in the quarter, representing 142 percent unit growth over the year-ago quarter. Apple sold 9.25 million iPads during the quarter, a 183 percent unit increase over the year-ago quarter. The Company sold 3.95 million Macs during the quarter, a 14 percent unit increase over the year-ago quarter. Apple sold 7.54 million iPods, a 20 percent unit decline from 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.” “We are extremely pleased with our performance which drove quarterly cash flow from operations of $11.1 billion, an increase of 131 percent year-over-year,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50.”


Conference Call Highlights

  • Highest quarterly revenue and profits. Record iPhone and iPad sales and highest June quarter Mac sales ever. 
  • Operating margin was a record high. 
  • 57% year-over-year Mac growth in Pacific segment.
  • iPod/iTunes continue to lead market. iTunes revenue up 36% year-over-year. 
  • Over 225 million accounts, leading music retailer. 
  • Thrilled to sell record 20.3 million iPhones. 142% growth, more than double IDC’s estimate of overall smartphone market. 
  • Asia Pacific sales almost quadrupled over last year. 
  • Ended quarter with 5.9 million in channel inventory, up about 700,000 over last quarter. 
  • 91% of Fortune 500 testing or deploying iPhone; 57% of Global 500. 
  • iPad sales up 183%, sold every iPad we could make. 
  • Launched iPad 2 in 36 new countries, now in total of 64 countries. 
  • 1.05 million iPads in channel inventory, up about 200,000…well below target range. 
  • Over 222 million cumulative iOS device sales 
  • In June, we previewed iOS 5 and iCloud. Both launching this fall. 
  • App Store booming…425,000 apps, 15 billion downloads. $2.5 billion paid out to developers. 
  • Retail stores: $3.5 billion, up 36% year-over-year. 50% of Mac purchasers new to Mac. 
  • 327 total stores, with four opened during the quarter 
  • 73.7 million visitors, up from 60.5 million year-ago quarter. 
  • 30 new store openings in September quarter, for a total of 40 in fiscal 2011. 28 outside of U.S. 
  • Cash and marketable securities up $10 billion sequentially to $76.2 billion. 
  • Now deferring revenue recognition for Lion sales, recognized over period of three years. Same with iCloud. As of June 6th, Apple is deferring $22 of revenue from each Mac sold to be recognized over a period of four years. Also deferring $16 of revenue from each iPhone/iPad and $11 from iPod touch to be recognized over two years. 
  • Extremely pleased with record revenue and earnings and customer response to our products.


Source , Thanks

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