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Apple posts another record quarter: Q2 2011 profits up 95% to $5.99 billion

Apple posts another record quarter: Q2 2011 profits up 95% to $5.99 billion
Apple (NASDAQ: APPL) has announced its Q2 2011 financials, for the three months ending March 25.

It posted record second quarter revenue of $24.67 billion, up 83 percent compared to Q2 2010.

Net profit was $5.99 billion, up 95 percent year-on-year.

This was Apple's largest year-on-year quarterly increase ever, partly because the comparison 2010 quarter didn't include any iPad sales. 

Gross margin was 41.4 percent compared to 41.7 percent a year ago, while international sales accounted for 59 percent of revenue.

"With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders," said Steve Jobs, Apple's CEO.

"We will continue to innovate on all fronts throughout the remainder of the year."

Got your number

In terms of hardware sales, Apple sold 18.65 million iPhones in the quarter, up 113 percent year-on-year.

It sold 4.69 million iPads. This was the first quarter including iPad 2 sales, but there's no comparable year-on-year figure as the iPad didn't launch until April 2010.

Apple sold 7.33 million iPads during its Christmas quarter, and 4.19 million iPads during Q3 2010.

Sales of iPods continue to decline, down 17 percent year-on-year to 9.02 million; iPod touches accounted for over half of all iPods sold.

Mac sales were up 28 percent to 3.76 million units.

Swimming in the stuff

In terms of cash flow, Apple generated $6.2 billion from operations. It ended the quarter with cash, cash equivalents, short term and long term investments of $65.8 billion, up $6.1 billion.

It said it expected to post revenues of around $23 billion for Q3 2011, compared to $15.7 billion in Q3 2010.

[source: Apple]
Contributing Editor

A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.

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