Record iPhone sales drive Apple profits of $13.06bn

Record iPhone sales drive Apple profits of $13.06bn

Record iPhone sales of more than 37 million have helped Apple to post a record quarterly net profit of $13.06bn (£8.39bn).

Apple was the latest manufacturer to post its results in what is a busy week for the sector, with Motorola and Nokia's results to come tomorrow (26 January).

For the 14 weeks to 31 December, revenue was $46.33bn (£29.7bn), up 73% on the same period in 2010. Net profit more than doubled from $6bn (£3.85bn) a year ago to $13.06bn (£8.39bn). Gross margin was up from 38.5% in 2010 to 44.7%.

International sales accounted for 58% of the quarter's revenue. European sales were $11.3bn (£7.26bn), up 55% on the previous year.

Apple's strong results were largely driven by the performance of the iPhone, with the iPhone 4S launching during the financial quarter. It sold 37 million iPhones globally, which earned it $24.4bn (£15.67bn) in revenue. Volume was up 128% on last year and value up 133%.

iPad sales netted Apple $9.2bn (£5.91bn) with 15.4 million units sold, up 111% in volume and 99% in value.

Apple CEO Tim Cook said: 'We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs. Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.'

Apple's chief financial officer Peter Oppenheimer said: 'We are very happy to have generated over $17.5bn in cash flow from operations during the December quarter. Looking ahead to the second fiscal quarter of 2012, which will span 13 weeks, we expect revenue of about $32.5bn (£20.87bn) and we expect diluted earnings per share of about $8.50.' 

Written by Mobile Today
Mobile Today

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