It appears that Apple’s sales call has shown the company to – surprise – be growing wildly, while the numbers on iPad sales specifically seem to be ever so slightly slipping. The sales call included the computer giant’s fiscal 2011 quarter ending on March 26th, 2011. During this quarter they’ve posted record second quarter revenue of $24.67 billion as well as record second quarter net profit of $5.00 billion, this translating to $6.40 per diluted share. Stock prices at the moment I publish this post:
And of course, it should be clear why sales for the original iPad “slipped” this past quarter: everyone knew, or at least suspected, that the iPad 2 was coming. Why purchase a tablet when you know a much better tablet is coming down the sled hill? Therefor watch, if you will, these numbers blast into outer space on next quarter’s call.
Oh Apple, you wily bunch, when will you ever stop growing?
Never, never ever, that’s what Steve Jobs essentially said on this call, “With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders. … We will continue to innovate on all fronts throughout the remainder of the year.” Unless the end of the year comes, that is. In reality, compared to the numbers last year with revenue at $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share, I and we are thinking their growth shows more than a little growth possibility.
Have a peek at the statistics below, and I’ll leave most of the conjecture up to Ben, but I’ve gotta say: no matter how you look at it, Apple continues to sell a whole barrel full of iProducts and will continue to do so until the end of time. They show no signs of letting up any time soon, and what we can all take away from this sales call is that the whole crew is definitely still on all four wheels.
April 20, 2011 20:30 UTC
Apple Reports Second Quarter Results
Record March Quarter Drives 83 Percent Revenue Growth, 95 Percent Profit Growth
Record iPhone Sales Grow 113 Percent
CUPERTINO, Calif.–(BUSINESS WIRE)– Apple® today announced financial results for its fiscal 2011 second quarter ended March 26, 2011. The Company posted record second quarter revenue of $24.67 billion and record second quarter net profit of $5.99 billion, or $6.40 per diluted share. These results compare to revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share, in the year-ago quarter. Gross margin was 41.4 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter’s revenue.
Apple sold 3.76 million Macs during the quarter, a 28 percent unit increase over the year-ago quarter. The Company sold 18.65 million iPhones in the quarter, representing 113 percent unit growth over the year-ago quarter. Apple sold 9.02 million iPods during the quarter, representing a 17 percent unit decline from the year-ago quarter. The Company also sold 4.69 million iPads during the quarter.
“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders,” said Steve Jobs, Apple’s CEO. “We will continue to innovate on all fronts throughout the remainder of the year.”
“We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $5.03.”
Apple will provide live streaming of its Q2 2011 financial results conference call beginning at 2:00 p.m. PDT on April 20, 2011 at http://www.apple.com/quicktime/qtv/earningsq211. This webcast will also be available for replay for approximately two weeks thereafter.
This press release contains forward-looking statements including without limitation those about the Company’s estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; risks associated with the Company’s international operations; the Company’s reliance on third-party intellectual property and digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the Company’s dependency on the performance of distributors, carriers and other resellers of the Company’s products; the effect that product and service quality problems could have on the Company’s sales and operating profits; the continued service and availability of key executives and employees; war, terrorism, public health issues, natural disasters, and other circumstances that could disrupt supply, delivery, or demand of products; and unfavorable results of other legal proceedings. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors“ and “Management’s Discussion and Analysis of Financial Condition and Results of Operations“ sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 25, 2010, its Form 10-Q for the quarter ended December 25, 2010, and its Form 10-Q for the quarter ended March 26, 2011 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.
NOTE TO EDITORS: For additional information visit Apple’s PR website (www.apple.com/pr), or call Apple’s Media Helpline at (408) 974-2042.
© 2011 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS and Macintosh are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
Can’t stand the iPad’s virtual keyboard? Well, you could lug around both your iPad and a Bluetooth keyboard, or you could just pony up for the Logitech iPad Keyboard Case ($100).
Combining a screen cover with a built-in stand and Bluetooth keyboard, this case will keep your iPad 2′s front glass from becoming a scratched-up wreck, while offering support while you type away on a real-life physical keyboard.
RBC Capital Markets Managing Director Mike Abramsky on Tuesday reiterated the firm’s position that sales of popular Apple products like the iPad 2 likely helped Apple record an impressive fiscal second quarter. In a note to investors, Abramsky wrote that tremendous demand for Apple’s iPad 2 tablet along with solid sales of the iPhone 4 (17 million units) and Apple’s refreshed MacBook Air and MacBook Pro notebooks (3.6 million total Macs) may have led to $24 billion in revenue in the second quarter. The figure would represent 78% growth over the same quarter last year, and is above Wall Street’s consensus of $23 billion. RBC sees Apple having shipped 7 million iPads in the second quarter, which includes 2-3 million iPad 2 units and is down 5% from the year prior. The firm estimates 8 million third-quarter iPad shipments, and also notes that Apple will likely launch the iPhone 5 in September — but if it instead launches in June, it could add $1.2 billion to the firm’s $23-$24 billion third-quarter revenue estimates. RBC adjusted its full-year iPad sales forecast up from 25 million to 31 million units, thus pushing its fiscal 2011 revenue estimates from $99 billion to $102 billion and possibly helping Apple to cross the $100 billion milestone for the first time. Apple will report its fiscal second-quarter earnings on April 20th.
Apple’s suppliers have shipped between 2.4 million and 2.6 million iPad 2 tablets to date, a new report claims. Citing sources at touch panel suppliers in Taiwan, industry watcher DigiTimes states that shipments of Apple’s iPad 2 have outpaced the original iPad.
Apple is reportedly expected to take delivery of between 4 million and 4.3 million iPad 2 units each month between April and June, totaling over 12 million units for the second quarter. The iPad 2 has seen tremendous demand in the U.S. and globally, having sold out in nearly every retail location that made the tablet available. Lines continue to form as new inventory arrives at retail locations abroad, and strong sales have kept stock low at U.S. retailers as well. Shipping estimates for online orders placed on Apple’s website improved to 2-3 weeks last month but that is where they have remained ever since, suggesting supply still hasn’t caught up with demand. Apple’s iPad 2 launched on March 11th in the U.S., and we said in our review that it pushed Apple’s already huge lead in the tablet space even further.