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Wednesday, April 20, 2011

Apple Q2 profit up 95%, revenue up 83%

Apple Q2 profit up 95%, revenue up 83% 

Share of  Apple (AAPL) Apple® today announced financial results for its fiscal 2011 second quarter ended March 26, 2011. The Company posted record second quarter revenue of $24.67 billion and record second quarter net profit of $5.99 billion, or $6.40 per diluted share. These results compare to revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share, in the year-ago quarter. 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.Despite the launch of the iPad 2 in March, the company fell short of iPad analyst expectations, selling 4.69 million during the most recent quarter. Analysts wanted to see 6 million to 8 million sold. Apple sold 7.3 million units in the December quarter.Apple sold 9.02 million iPods during the quarter, representing a 17 percent unit decline from the year-ago quarter, and 4.69 million iPads were sold.

Analysts were expecting, on average, earnings of $5.36 per share on revenue of $23.3 billion.

Looking ahead, the company said it expects third quarter earnings of $5.03 per share on revenue of $23 billion.Apple posted adjusted earnings per share of $6.40, compared to EPS of $3.07 billion, or $3.33 per share, during the same period last year. Analysts had expected earnings of $5.35 per share on $23.3 billion in sales for the March quarter.Revenue climbed 83% to $24.67 billion. As its habit, Apple reported conservative guidance, posting third-quarter earnings of $5.03 per share, while analysts want to see $5.25 per share. Take look Apple technical analysis Right here
Shares of Apple popped 3.7% to $354.68 in after-hours trading Wednesday.

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