Apple Posts Massive Double-Digit Increases - Twice

Apple Posts Massive Double-Digit Increases

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Cupertino, Calif. - Apple reported massive double-digit revenue and profits in its fiscal second quarter ended March 26.

Apple second quarter revenue was $24.7 billion, an 83 percent gain over the prior year's quarterly revenue of $13.5 billion and net profits of $5.9 billion, a 95 percent increase from the prior year's $3.1 billion.

Gross margin was 41.4 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter's revenue.

Apple sold 3.76 million Macs during the quarter, a 28 percent unit increase over the year-ago quarter. The company sold 18.65 million iPhones in the quarter, representing 113 percent unit growth over the year-ago quarter. And Apple sold 9.02 million iPods during the quarter, representing a 17 percent unit decline from the year-ago quarter. Apple also sold 4.69 million iPads during the quarter.

"We're firing on all cylinders," said Steve Jobs, Apple's CEO, in a statement. "We will continue to innovate on all fronts throughout the remainder of the year."

"We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the third fiscal quarter of 2011, we expect revenue of about $23 billion."

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