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Apple Posts Massive Double-Digit Increases

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.”