Apple Posts Record Quarter, $28B Revenue, $7.3B Profit [Update]

| Apple Stock Watch

Apple announced announced results for the June quarter on Tuesday, and the company has once again hit an all-time record for both revenue and earnings. The posted revenue of US$28.57 billion with earnings of $7.31 billion ($7.79 earnings per share or EPS). This compares to $15.7 billion in revenue a year ago, with $3.25 billion in earnings.

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

The company reported gross margins of 41.7%, much higher than the company had guided for or had been expected by analysts. Apple also said that international sales accounted for 62% of the company’s revenue, representing extraordinary growth outside the U.S.

Looking at unit sales, Apple sold 20.34 million iPhones during the quarter, which is up 142% year-over-year. Apple also sold 9.25 million iPads, which represents 183% year-over-year growth. Both numbers are well above consensus estimates.

Apple sold 3.95 million Macs, which is near to what had been expected, and represents 14% year-over-year growth. Preliminary numbers from Gartner released late last week put the PC industry as having grown 2.3%, meaning that Apple has once again far outpaced the Wintel world in terms of growth.

Apple CFO Peter Oppenheimer said that Apple’s cash hoard grew by $11.1 billion during the quarter (up 131% year-over-year), and offered guidance of $25 billion in revenue and EPS of $5.50 for the September quarter.

*In the interest of full disclosure, the author holds a tiny, almost insignificant share in AAPL stock that was not an influence in the creation of this article.  

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14 Comments Leave Your Own

MOSiX Man

Let me be the first to say “DAMN!”

John Dingler, artist

Generally twice as much in both key measurements: Total yearly earning and Earning per share. Good time to be an Apple investor and enthusiast.

daemon

Go go Apple!

Now what’s Apple’s tax burden on that $7.3 billion?

RonMacGuy

Normally this is when I toss out the “closed” comments to our favorite troll here, but you know, its not even worth it now.

Holy crap, I am blown away. At my company’s peak, we were approaching $29B a year in sales. Apple just hit that in a single quarter. Unfreakingbelievable.

After hours trading for Apple stock is around $400 a share. Man, I wish I had more in it!!

RonMacGuy

One other comment. iPhones sales up 142% year-over-year on either a 1-year-old or 2-year-old design. Mind boggling. They had better be ready to build 100 million plus iPhone 5s in 2012!!

But just wait - their closed architecture will be their downfall, I promise you!!  Darn it, I let it slip out!!

grin

prl53

Bryan,
I think you need to talk to Jeff about adding to that money pile especially after AAPL broke $400 in after-market trading. I’d double the size of that pile.

Nemo

Now, exactly who would Apple be jealous of?  Which of the Android OEMs makes revenues on smart devices even in a year what Apple made this past quarter on devices that have been in the market for at least a year?  Or perhaps Apple is jealous of Google with its quarterly net revenues of $6.95 billion and $2.51 billion in net income?  And doesn’t Eric Schmidt’s comments about Apple being jealous make him sound like a perfect fool, especially after this financial performance from Apple?

MOSiX Man

@Nemo: To be fair, nobody is perfect.

jfbiii

Obviously, this is the year Android is going to completely marginalize the iPhone, the iPad, and everything Apple. Apple just isn’t keeping pace, anymore.

And yes, that’s sarcasm..

CityGuide

Nice numbers from Apple, certainly, but what’s with the share price posted in the TMO ticker on the sidebar?
 
AAPL: $505545728.00. Change: +0.0078.
 
A little irrational exuberance is one thing, but one share of that would buy Greece.

mrmwebmax

+

RMG, Nemo, jfbiii: To reply to all of your comments, Apple is obviously leading every Android OEM where it counts. In the bank. As for consumers (here’s looking at you, RMG), yes, they actually DO prefer open to closed: They prefer to “open” their wallets and pay for a “closed” system, even if the “closed” system is running on 2-year old hardware. Sitting. Right. Next. To. Shiny. Android. 4G. Handsets.

Oops…me thinks the logic of one TMO member is a tad flawed. And it’s no one I’ve mentioned in this post. I digress….

Yes, jfbiii, this will be the year Android totally marginalizes Apple. As in, wow, look at those gross margins just keep climbing up and up and up! Especially compared to Android OEMs!

And Nemo, what, exactly, is Apple jealous of? Why, all the spare room at the GooglePlex and Android OEMs, who don’t have to struggle to find room for all those piles and piles of billions of dollars in cash that Apple keeps growing, year after year. Obviously, Apple is jealous of all of that “open” space. smile

Tiger

Apple is about to open 33 new retail stores this year.

Google? Not so much.

The Ecosystem is the answer. Hardware, software, support, R&D, and IP. That’s a pretty healthy ecosystem.

Bryan Chaffin

Nice numbers from Apple, certainly, but what?s with the share price posted in the TMO ticker on the sidebar? AAPL: $505545728.00. Change: +0.0078.

We’re forward thinkers…

But seriously, there’s an intermittent problem with the feed! We hope it has gone away. smile

RonMacGuy

they actually DO prefer open to closed: They prefer to ?open? their wallets and pay for a ?closed? system

Good one, mrmgraphics.  You had me going for a second!!  LOL.

The sad thing is, our friendly neighborhood troll totally ignores these Apple quarterly reports (his continual denial I suppose), so he will probably never see our great posts here!!  Oh well.

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