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Apple Reports 94% Profit Gain In Its Q2

4/24/2012 04:44:22 PM Eastern
Cupertino, Calif. -Apple reported a 94 percent gain year over year for its fiscal second quarter, ended March 31.

Apple posted quarterly revenue of $39.2 billion and quarterly net profit of $11.6 billion. These results compare with revenue of $24.7 billion and net profit of $6.0 billion in the year-ago quarter.

Gross margin was 47.4 percent, compared with 41.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter's revenue.

Apple sold 35.1 million iPhones in the quarter, representing 88 percent unit growth over the year-ago quarter, and sold 11.8 million iPads during the quarter, a 151 percent unit increase over the year-ago quarter.

Apple sold 4 million Macs during the quarter, a 7 percent unit increase over the year-ago quarter. It sold 7.7 million iPods, a 15 percent unit decline from the year-ago quarter.

"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, in a prepared statement. "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."

Peter Oppenheimer, chief financial officer, said, "Our record March quarter results drove $14 billion in cash flow from operations. Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68."
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