| April 24, 2012 | No comment yet
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.
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