Apple Reports Record Holiday Quarter Revenue

Apple announced financial results for its fiscal 2011 first quarter ended December 25, 2010. Record Mac, iPhone, iPad sales have driven highest revenue and earnings ever: the company posted record revenue of $26.74 billion and record net quarterly profit of $6 billion ($6.43 per diluted share).

These results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion ($3.67 per diluted share) in the year-ago quarter. Gross margin was 38.5 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.

During the quarter Apple sold:

• 4.13 million Macs  (23% unit increase over the year-ago quarter);
• 16.24 million iPhones (86% unit growth);
• 19.45 million iPods (7% unit decline);
• 7.33 million iPads.

“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,” he added.

Peter Oppenheimer, Apple’s CFO, said: “We couldn’t be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter. 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.”