Wednesday, July 20, 2011

Apple Q3 revenue rockets up 82%

Cupertino tech company beats forecast with $7.31 billion in profit on $28.5 billion in revenue; 20.3 million iPhones, 9.25 million iPads, 3.95 million Macs, and 7.54 million iPods sold during the quarter.

The way THQ boss Brian Farrell tells it, Apple could be a big-time player when the next generation of consoles rolls out. However, even without a presence in the console market, Apple continues to make a killing with its iOS devices.
Today, Apple reported its financial haul for the three-month period ended June 25, 2011. Beating its own estimate, the Cupertino company reported a company-best $28.5 billion in revenue during the quarter, up 82 percent over the same period last year.
Net profit for the three-month period stood at $7.31 billion, up 124 percent from the $3.25 billion Apple made during the same period a year prior. According to Apple, 62 percent of quarterly sales stemmed from international markets.
In terms of devices sold, Apple said it moved 20.34 million iPhones during the quarter, a 142 percent spike over sales during the same period last year. Additionally, Apple sold 9.25 million iPads during the quarter, which was good for an uptick of 182 percent over the same quarter last year, when the original iPad launched.
Not all sector's of Apple's business are growing, however. The company reported that its iPod line continued to drop, selling 7.54 million iPod devices during the quarter. This marks a 20 percent unit decline from the year prior.
Looking to its fourth fiscal quarter, Apple said it is forecasting revenue of $25 billion, up from the $20.3 billion it made in Q4 2010. Investors have reacted quite favorably to Apple's solid performance. In after hours trading, the company's shares were up 4.43 percent to $398.18 as of press time.

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