Apple Reports $24.67 Billion in Q2 Revenue

News
By Jane McEntegart
published

Apple has joined Google and Intel in reporting financial results for the quarter just finished.

Apple this week posted earnings for the company’s fiscal year 2011 second quarter (ended March 26) and reported record growth in revenue and profit. The company reports FY2011 Q2 revenue of $24.67 billion and net profits amounting to $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 same period last year.

“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders,” said Apple CEO Steve Jobs. “We will continue to innovate on all fronts throughout the remainder of the year.”

Comparing this quarter to the same one in 2010, Apple saw a 28 percent increase in Mac sales, and 113 percent increase in iPhone sales (no doubt the addition of the Verizon iPhone helped things along nicely). Only iPod sales were less than stellar, declining 17 percent compared to last year. Unit sales for Macs, iPhones, and iPods were 3.76 million, 18.65 million and 9.02 million respectively.

Apple expects the next quarter to bring revenue of $23 billion and diluted earnings per share of about $5.03

Jane McEntegart
29 Comments Comment from the forums
  • JohnnyLucky
    Both the gross revenue and the net profit are double Intel's quarterly revenue and profit.
    Reply
  • EXT64
    Yep, I noticed that too. Its because Intel spends their money on engineering and research, not marketing.
    Reply
  • deadlockedworld
    The reason Apple is where it is today is because of how much they invested in R+D in the past -- (from the apple newtwon and imac to the ipad and laser cut aluminum macbook) and such while other companies were busy fighting price + clock speed wars.
    Reply
  • You think the long term shareholders care?
    Reply
  • ta152h
    I'm glad Steve Jobs was well enough to be part of the earnings.

    Comparing Apple to Intel is silly. Anyone with half a brain would rather own Intel than Apple. Intel owns the microprocessor market, because they are the best. Their manufacturing is the best in the world, and has been for a very long time, and is essentially insurmountable. They can not be copied. Their designs are also superb, and would require enormous amounts of money to even compete against.

    Apple's got a cute style that's easy to copy. They own nothing, and have to keep coming up with brilliantly conceived ideas that realize a market no one thought of. Give them their due, they've done it exceedingly and shockingly well the past several years, but what about before that? What happens if they misfire, and other companies catch or surpass them? We already see a lot of competition in the tablet market, and Android phones getting more and more attractive.

    When someone says what's next for Intel, you look at a progressive history of success, and a future that looks unassailable. When you look at Apple, you look at a choppy past, a brilliant present, and a fragile and uncertain future. In five years, do you think Apple will still be double what Intel is? I surely do not. Apple would scare me to death to invest in. They are much more susceptible to mistakes. Intel has made them forever, without much impact at all, because their strengths are so formidable. Apple? They almost went out of business in the 90s.

    Also, Intel has one major enemy, and it's a weakling (AMD). They have many allies. Apple has one major ally (Intel), and many formidable enemies.
    Reply
  • tsnorquist
    Good to see they track their revenue as closely as they track they iPhone customers =P
    Reply
  • Ragnar-Kon
    EXT64Yep, I noticed that too. Its because Intel spends their money on engineering and research, not marketing.I think you underestimate the cost of marketing.

    And TA152H is more or less right. However, I can tell you right now that I ain't complaining about owning the Apple stock that I bought back in in the mid-90s. Though I will say that I'm rather tired to watch my stock value vary so wildly based on Jobs' personal health.

    But, yes, its true Apple's ultra-popular gadgets won't carry them on forever. But, I think one of the ways they can have long term success is to find a way to get into the enterprise/business market. So far their attempts at that have largely failed (ie. the Xserve).
    Reply
  • smeker
    wasabiman123+1 Apple is all show and pretty labby chassis and a marketing genius in charge of their company Steve Jobs is a lalalalalaing genius, you can't deny that, no one has that much power of manipulating a population ever...You are a sad little man....
    Reply
  • jwl3
    Goes to show how inflated Apple products' prices are. Ratio of income to revenue is almost 25%. And that includes overhead, mgmt salary, depreciation of equipment, factories, R&D, marketing, etc. Those ipads and ipods must cost 20 cents on the dollar to manufacture.
    Reply
  • starryman
    No recession over there at Apple.
    Reply