Apple reported that it had most lucrative quarters in corporate history as soaring iPhone and iPad sales sent profits and revenues through the roof into Space.
For its fiscal Q1 (the 14 weeks starting in September and ending 31 December), the firm reported record net profit of US$13.06 billion, more than doubling from US$6 billion a year ago, on best-ever revenues of US$46.33 billion, up from US26.74 billion. It was the first time sales had surpassed the US$30 billion mark and was way ahead of the US$39 billion average forecast by analysts.
The iPhone was the main driver of results, shifting 37.04 million units in the quarter, representing 128 percent unit growth year-on-year. Sales were lifted by the introduction of the new iPhone 4S model in October. iPhone sales accounted for over half of total revenue – US$24.4 billion, a rise of 133 percent over the year. Apple also sold 15.43 million iPads (up 111 percent), 5.2 million Macs (up 26 percent) and 15.4 million iPods (a 21 percent decline).
We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” said Apple CEO Tim Cook (pictured), who was overseeing his first full quarter at the helm after taking over from the late Steve Jobs. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”
On a regional basis, the Americas remained Apple’s largest market generating revenues of US$17.7 billion, up 92 percent year-on-year. Sales were also up in Europe (+55 percent), Japan (+148 percent) and the Asia Pacific (+54 percent).
Apple is already the world’s Largest technology company and its share price rose into record territory in extended trading last night following the earnings announcement.