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Apple continues upwards growth: Q3 2011 profits up 125% to $7.3 billion

20.3 million iPhones and 9.3 million iPads sold

Apple continues upwards growth: Q3 2011 profits up 125% to $7.3 billion
Apple (NASDAQ: APPL) has announced its financial results for its Q3 2011 ending June 25 2011.

It posted record revenues of $28.57 billion, up 82 percent compared to Q3 2010.

The figure is also $5.6 billion higher than Apple had predicted for itself in its Q2 2011 report.

Net profit was $7.3 billion up 125 percent year-on-year.

Gross margin was 41.7 percent compared to 39.1 percent last year whilst international sales accounted for 62 percent of revenue.

"We're thrilled to deliver our best quarter ever ... and right now, we're very focused and excited about bringing iOS 5 and iCloud to our users this fall," said Steve Jobs, Apple's CEO.

Number crunch

Apple sold 20.34 million iPhones during the quarter, up 142 percent year-on-year.

9.25 million iPads were also sold, representing a 183 percent increase over the year-ago quarter.

In total, Apple's now sold 28.7 million iPads. 

There was a 20 percent year-on-year decline in iPod sales, reaching 7.54 million units sold this quarter. Meanwhile 3.95 million Macs were sold, up 14 percent.

Deeper pockets

"We are extremely pleased with our performance which drove quarterly cash flow from operations of $11.1 billion, an increase of 131 percent year-over-year," said Peter Oppenheimer, Apple's CFO.

Apple ended the quarter with current assets of $46.9 billion, compared to $47 billion three months ago. 

[source: Apple]

When Matt was 7 years old he didn't write to Santa like the other little boys and girls. He wrote to Mario. When the rotund plumber replied, Matt's dedication to a life of gaming was established. Like an otaku David Carradine, he wandered the planet until becoming a writer at Pocket Gamer.

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