Apple crushes earnings on record iPad, iPhone sales

Written by Andre Yoskowitz @ 19 Jul 2011 8:59 User comments (10)

Apple has completely blown out their quarterly earnings report this afternoon, on the back of strong growth in China and record iPad sales.

Profits for the quarter were $7.31 billion, up 125 percent year-over-year, and revenue was $28.57 billion, up 82 percent YoY.

Following the report, Apple, which closed the day at $376.85 jumped to as high as $405 per share, a new all-time high.

Additionally, the company confirmed it will be releasing Mac OS X 10.7 Lion tomorrow, as reported earlier.

iPhone sales jumped 142 percent to 20.34 million units (a record) and iPad sales jumped to 9.25 million units (also a record).

Says CEO Steve Jobs:

We're thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent. Right now, we're very focused and excited about bringing iOS 5 and iCloud to our users this fall.

Sales in China, and the Asia-Pacific region in general, had the most explosive growth with COO Peter Oppenheimer saying overall sales in China are up 600 percent "and just beginning."

A few other figures of note from the report was weak Mac sales (3.95 million units, up 13.8 percent YoY), the continued decline in iPod sales (down 20 percent to 7.54 million units) and an overall gross margin of 41.7 percent, huge for any industry.

Apple is also expected to release the iPhone 5 in September.

Tags: Apple Sales iPad iPhone Earnings

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10 user comments

119.7.2011 23:23

ZeusAV

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Rumors say they're going to put the next iPhone on China Mobile. Sales will probably be ridiculous.

220.7.2011 00:30

Hyasuma

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BOOOO

320.7.2011 03:56

xnonsuchx

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"weak Mac sales (3.95 million units, up 13.8 percent YoY)"

Yeah, it's HORRIBLE when your sales are UP and you're one of the top 4 PC manufacturers! ;-) Is anything below 20% growth a failure all of a sudden???

Oddly, AfterDawn is the only place that said "weak Mac sales"...I wonder why???

This message has been edited since its posting. Latest edit was made on 20 Jul 2011 @ 5:51

420.7.2011 10:14

each32

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$28.57 billion......

520.7.2011 13:57

hearme0

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Proof in and of itself that Apple products are DRAMATICALLY marked up and overpriced.

620.7.2011 14:41

DVDBack23

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Originally posted by xnonsuchx:
"weak Mac sales (3.95 million units, up 13.8 percent YoY)"

Yeah, it's HORRIBLE when your sales are UP and you're one of the top 4 PC manufacturers! ;-) Is anything below 20% growth a failure all of a sudden???

Oddly, AfterDawn is the only place that said "weak Mac sales"...I wonder why???

Yes, "weak Mac sales" as it was the only category in which Apple underperformed analyst expectations. They blew every other analyst expectations out by over 20 percent.

720.7.2011 16:27

xnonsuchx

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Originally posted by DVDBack23:

Originally posted by xnonsuchx:
"weak Mac sales (3.95 million units, up 13.8 percent YoY)"

Yeah, it's HORRIBLE when your sales are UP and you're one of the top 4 PC manufacturers! ;-) Is anything below 20% growth a failure all of a sudden???

Oddly, AfterDawn is the only place that said "weak Mac sales"...I wonder why???
Yes, "weak Mac sales" as it was the only category in which Apple underperformed analyst expectations. They blew every other analyst expectations out by over 20 percent.

"Analyst expectations???" Then it should be "weaker than analyst-expected" and not just "weak." Keep in mind most market "analysts" consider less than 10-12% growth year over year to be total failure...yet they inexplicably support companies that almost never make a profit (e.g. TiVo, who's lost half a billion dollars the past 10 years). Again, the dozen or so actual news sources that reported this didn't single that meaningless bit out like AfterDawn felt some need to do.

820.7.2011 19:17

DVDBack23

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Originally posted by xnonsuchx:
"Analyst expectations???" Then it should be "weaker than analyst-expected" and not just "weak." Keep in mind most market "analysts" consider less than 10-12% growth year over year to be total failure...yet they inexplicably support companies that almost never make a profit (e.g. TiVo, who's lost half a billion dollars the past 10 years). Again, the dozen or so actual news sources that reported this didn't single that meaningless bit out like AfterDawn felt some need to do.

Man, it has been a while since I've seen a fanboy of this caliber. You took an entire positive article and found one word that showed any weakness in Apple's earnings and jumped on it. Yes, the sales were weak if they didn't live up to analyst's expectations and Apple's own sandbagged guidance. 14 percent growth is certainly not mind-blowing when you control a tiny slice of the market and your other divisions are bringing 80%+.

This message has been edited since its posting. Latest edit was made on 20 Jul 2011 @ 7:18

921.7.2011 06:11

xnonsuchx

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Originally posted by DVDBack23:

Originally posted by xnonsuchx:
"Analyst expectations???" Then it should be "weaker than analyst-expected" and not just "weak." Keep in mind most market "analysts" consider less than 10-12% growth year over year to be total failure...yet they inexplicably support companies that almost never make a profit (e.g. TiVo, who's lost half a billion dollars the past 10 years). Again, the dozen or so actual news sources that reported this didn't single that meaningless bit out like AfterDawn felt some need to do.
Man, it has been a while since I've seen a fanboy of this caliber. You took an entire positive article and found one word that showed any weakness in Apple's earnings and jumped on it. Yes, the sales were weak if they didn't live up to analyst's expectations and Apple's own sandbagged guidance. 14 percent growth is certainly not mind-blowing when you control a tiny slice of the market and your other divisions are bringing 80%+.

Oh, I see. Start throwing the "fanboy" accusations around when it could easily be said the article was purposely trying to make things sound worse than they are??? FYI, the only Apple product I've ever purchased was an iPod mini many years ago and I hardly ever used it. I'd NEVER say Apple can do no wrong or is totally brilliant about everything, but it's one of those things that have SO many haters that I defend them from time to time.

1021.7.2011 14:38

bakedalex

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i want an ipad :(

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Apple crushes earnings on record iPad, iPhone sales

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