Apple Reports Thumping 94% Profit Rise Sales Up 59%

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Apple has reported a 94% profit jump to US$11.6 billion and a 58.9% revenue increase to $39.2 billion for the first three months of the year from a year earlier.Shares in the Company jumped 7% after the Company reported that gross margin had risen to 47.4 percent compared to 41.4 percent in the year-ago quarter. 

International sales accounted for 64 percent of the quarter’s revenue.

The company sold 35.1 million iPhones in the quarter, representing 88 percent unit growth over the year-ago quarter. iPad sales rose 151% to 11.8 million units. iPod sales fell 15% to 7.7 million units. Mac sales remained in single digit with 7% growth. No sales numbers were supplied by Apple.

“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” said Tim Cook, Apple’s CEO. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver”.

“Our record March quarter results drove $14 billion in cash flow from operations,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”

Cash reserves have risen to over $104 Billion dollars–enough to buy out Sony, Nokia and the struggling Blackberry–companies that Apple has taken out during the past 4 years.

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