7/20/2011 11:05:00 AM
iPhone and iPad sales power Apple’s record quarter
Apple has once again defied industry predictions to report another record quarter after iPhones and iPad sales smashed forecasts.
Profits more than doubled from $3.25bn (£2.01bn) to $7.31bn (£4.53bn), while revenue grew 82% to $28.6 billion (£17.75bn) from $15.7bn (£9.74bn) in the same quarter in 2010.
Apple sold 20.34 million units of its flagship iPhone and 9.25 million iPads during the quarter ended June 30 2011.
Apple’s CEO Steve Jobs said: ‘We’re thrilled to deliver our best quarter ever, with revenue up 82% and profits up 125%. Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.’
Apple’s CFO Peter Oppenheimer said : ‘We are extremely pleased with our performance, which drove quarterly cashflow from operations of $11.1 billion, an increase of 131% year over year.'
'Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50.’