During the last quarterly earnings call, Apple predicted that it would have a $23 billion third quarter to its fiscal year, but apparently the company wanted to blow the doors off of that prediction.

For the third quarter of Apple’s fiscal 2011 year, the company recorded a record income of $28.5 billion, which made for the largest quarter in the company’s history.  This number represented an increase of nearly $13 billion from the same quarter last year.  This works out to a net quarterly profit of $7.31 billion, or $7.79 per diluted share compared to $3.25 billion, or $3.51 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 – 3.95 million units, up 14% from the same quarter last year
  • iPhones – 20.34 million units, up 142% from the same quarter last year
  • iPod – 7.54 million units, a decline of 20% from the same quarter last year
  • iPad – 9.25 million units, up 183% from the same quarter last year
  • Apple retail stores – $10.8 million average per store, 20% increase over $9 million for year-ago same 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.”

As has become the trend, the iPod division was the weakest chain in the arsenal of products, and this has been the trend for several quarters now.  The iPod Touch still accounts for over half of all iPod sales.

The Mac is still tracking ahead of the overall PC market, and it looks to be that it is continuing to sell overwhelmingly to first time buyers.

It would seem that the company thinks the shining star is the iPad 2 and how they continue to be amazed by the use cases for the device as well as the demand.

As with any call of this nature, no hint was given to what future products we could expect from the company, but they did say that there will be some sort of product transition in the next quarter, but they would not discuss it today.

What say you?  Can Apple continue to expand at the insane rate it has shown for the last few quarters?

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