Apple reports record first quarter sales
Record Mac, iPhone and iPad sales have resulted in Apple's highest ever revenue and earnings. The company reported a record 2011 first quarter with revenue of $26.74billion, a 71% year on year increase. The company attained a Net quarterly profit of $6bn. These results compare to revenue of $15.68bn and net quarterly profit of $3.38bn in Q1 2009.
In total, Apple sold 4.13m Macs, 16.24m iPhones (representing 86% unit growth over the year ago quarter), 19.45m iPods (a 7% decline over the year ago quarter) and 7.33m iPads.
"We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales," said Steve Jobs, Apple's ceo. "We are firing on all cylinders and we've got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can't wait to get their hands on."
"We couldn't be happier with the performance of our business, generating $9.8bn in cash flow from operations during the December quarter," added Peter Oppenheimer, Apple's cfo. "Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22bn and diluted earnings per share of about $4.90."
