During the last quarterly earnings call, Apple predicted that it would have a $25 billion quarter for Oct. through Dec., but as the company is want to do, it once again broke through its own predictions.
For the first quarter of Apple’s fiscal 2011 year, the company recorded a record income of $26.7 billion, which represented an increase of over $11 billion from the same quarter last year. This works out to a net quarterly profit of $6 billion, or $6.43 per diluted share compared to $3.38 billion, or $3.67 per diluted share, in the year-ago quarter. International sales accounted for 62 percent of the total for the quarter.
Each category of Apple products broke down for year over year as follows:
- Macs – 4.13 million units, up 23% from the same quarter last year
- iPhones – 16.24 million units, up 86% from the same quarter last year
- iPod – 19.45 million units, a decline of 7% from the same quarter last year
- iPad – 7.33 million units, no data for last year (sequential increase of 3 million)
- Apple retail stores – $12 million average per store, 69% increase over $7.1 million for year-ago same 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.”
“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.”
While the iPod division was once again the weakest chain in the arsenal of products, you still can’t laugh at selling 19.45 million units. The big news in this division was that the iPod Touch now accounts for half of all iPod sales, which assists in the revelation that a total of 160 million iOS-based devices have now been sold by the company.
The Mac got a lot of love, especially since half of the 851,000 units sold in stores went to first time owners, but the true star of the day was the iPad. By Apple’s calculations they already have nearly 80 percent of the Fortune 100 companies adopting the device to their approved product lists, with more companies testing for use.
As with any call of this nature, no hint was given to what future products we could expect from the company, but they did promise that a great many things were waiting in the wings for release.
What say you? Can Apple continue to expand at the insane rate it has shown for the last two quarters?