Apple reports Q3 results, sells 20.3 million iPhones

Apple Inc. (Cupertino, Calif., U.S.A.) on Tuesday announced financial results for its fiscal 2011 third quarter, which ended on June 25. The company posted record quarterly revenue of $28.57 billion and a quarterly net profit of $7.31 billion. These results compare to revenue of $15.70 billion and a net quarterly profit of $3.25 billion in the third quarter of 2010.
Gross margin was 41.7% compared to 39.1% in the year-ago quarter. International sales accounted for 62% of the quarter’s revenue.


Apple Inc. (Cupertino, Calif., U.S.A.) on Tuesday announced financial results for its fiscal 2011 third quarter, which ended on June 25. The company posted record quarterly revenue of $28.57 billion and a quarterly net profit of $7.31 billion. These results compare to revenue of $15.70 billion and a net quarterly profit of $3.25 billion in the third quarter of 2010.
Gross margin was 41.7% compared to 39.1% in the year-ago quarter. International sales accounted for 62% of the quarter’s revenue.

Apple sold 20.34 million iPhones in the quarter, showing a 142% unit growth from the third quarter of 2010. The company sold 9.25 million iPads during the quarter, a 183% unit growth from Q3 2010, as well as sold 3.95 million Macs during the quarter for a 14% unit increase.
Apple experienced a 20% unit decline from the year-ago quarter, only selling 7.54 million iPods this quarter.
According to CEO Steve Jobs, this was Apple’s best quarter ever, with revenue up by 82%, and profits up by 125%.

“We are extremely pleased with our performance which drove quarterly cash flow from operations of $11.1 billion, an increase of 131% 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.”