Apple Gives Retailers Two Finger Salute As They Record $8B Profit For The Quarter

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Apple who openly dictates terms to retailers while continuing to sell on their brand value as opposed to discounting which is favoured by the likes of Harvey Norman, JB Hi Fi and The Good Guys has reported triple-digit growth in iPads and iPhones and a monster quarterly profit of over $8 Billion.

Apple who openly dictates terms to retailers while continuing to sell on their brand value as opposed to discounting which is favoured by the likes of Harvey Norman, JB Hi Fi and The Good Guys has reported triple-digit growth in iPads and iPhones and a monster quarterly profit of over $8 Billion.

Apple posted record quarterly revenue of US$28.57 billion and record quarterly net profit of US$7.31 billion for the quarter, ended June 25. These results compare with revenue of $15.7 billion and net quarterly profit of $3.25 billion in the year-ago quarter.

Gross margin was 41.7 percent, compared with 39.1 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.


Apple sold 20.34 million iPhones in the quarter, representing 142 percent unit growth over the year-ago quarter. It sold 9.25 million iPads during the quarter, a 183 percent unit increase over the year-ago quarter.

Mac unit sales were 3.95 million during the quarter, a 14 percent unit increase over the year-ago quarter. Apple sold 7.54 million iPods, a 20 percent unit decline from the year-ago quarter.

“We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent,” said Steve Jobs, Apple’s CEO, in a prepared statement. “Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”

Peter Oppenheimer, Apple’s chief financial officer, commented, “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.”

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