Apple iPad Sales up 151% – 11.8 million iPads and 35.1 million iPhones Sold in Q2

Apple just released financial results for its fiscal 2012 first quarter and the company once again posted record sales numbers. Apple was able to grow sales of iOS products versus the same quarter a year ago.  It once again posted great sales, exceeding analyst estimates, with revenue totaling $39.2 billion and a net quarterly profit of $11.6 billion.  This compares to Apple’s revenue of $24.7 billion and net quarterly profit of $6 billion for the same quarter in the previous year. Apple also reported assets reached record levels of $151 billion with $110 billion in cash reserves.

Apple reported iPads sales grew 151% to 11.8 million units and iPhones sales grew 88% to 35.1 million units based on strong international demand.  Analysts had been concerned that margins might take a hit due to aggressive pricing on the iPad and iPhone and a possible softening of iPhone demand, both assumptions proved unfounded.

“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” said Tim Cook, Apple’s CEO. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”

“Our record March quarter results drove $14 billion in cash flow from operations,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”

Apple also reported an increase in Gross Margins this quarter of  47.4 % compared to 41.4% for the same quarter last year.

Full Apple Press Release

Apple Reports Second Quarter Results - Record March Quarter Sales of iPhones, iPads and Macs

Net Profit Increases 94% Year-over-Year

CUPERTINO, California—April 24, 2012—Apple® today announced financial results for its fiscal 2012 second quarter ended March 31, 2012. The Company posted quarterly revenue of $39.2 billion and quarterly net profit of $11.6 billion, or $12.30 per diluted share. These results compare to revenue of $24.7 billion and net profit of $6.0 billion, or $6.40 per diluted share, in the year-ago quarter. Gross margin was 47.4 percent compared to 41.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.
The Company sold 35.1 million iPhones in the quarter, representing 88 percent unit growth over the year-ago quarter. Apple sold 11.8 million iPads during the quarter, a 151 percent unit increase over the year-ago quarter. The Company sold 4 million Macs during the quarter, a 7 percent unit increase over the year-ago quarter. Apple sold 7.7 million iPods, a 15 percent unit decline from the year-ago quarter.

“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” said Tim Cook, Apple’s CEO. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”

“Our record March quarter results drove $14 billion in cash flow from operations,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”

Apple will provide live streaming of its Q2 2012 financial results conference call beginning at 2:00 p.m. PDT on April 24, 2012 at www.apple.com/quicktime/qtv/earningsq212. This webcast will also be available for replay for approximately two weeks thereafter.

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