Strong sales of the iPhone and iPad in have produced record earnings for the quarter ending 24 September, Apple announced yesterday (18 October). The company sold 17.07 million iPhones in the quarter, up 21% on the same period last year and 11.12 million iPads, a rise of 166% over the same quarter in 2010.
Revenues for Apple’s fourth quarter reached $28.27bn ($20.34bn in 2010), while net profit for the quarter was $6.62bn, a rise of $2.31bn over the same quarter in 2010.
Apple CEO Tim Cook (pictured) said: ‘We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108bn and growing earnings to $26bn. Customer response to the iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline.’
Despite disappointment in some quarters that Apple failed to produced an iPhone 5, the iPhone 4S has sold over four million units in the first three days since its release on 14 October.
The device is Apple’s best selling device ever on release and caps an astonishing performance by the manufacturer this year. In the 12 months ending 24 September 2011 Apple’s revenues were $108bn, a rise of $43bn on the previous year’s figure of $65.2bn. Net profit reached $25.9bn, up from $14.0bn in 2010.
Apple’s largest market is the Americas, where it earned $9.64bn in the quarter and shipped 1.7 million units (all products), followed by Europe with revenues of $7.39bn and 1.1 million units sold.
The iPhone and related products accounted for $10.9bn of the quarter’s total turnover of $28.2bn, while the iPad brought in $6.86bn.
Apple CFO Peter Oppenheimer said: Looking ahead to the first fiscal quarter of 2012, which will span 14 weeks rather than 13, we expect revenue of about £37bn.’