Apple sold 18.65 million iPhones in the last three months helping it to enjoy a 95 per cent increase in profits over the same timeframe last year as it continues to enjoy bumper results helped by new products and massive success of it’s retail stores.
The company posted record second quarter revenue of $24.67 billion and record second quarter net profit of $5.99 billion compared to revenue of $13.50 billion and net quarterly profit of $3.07 billion in the year-ago quarter.
But Apple didn’t just sell iPhone’s (113 per cent up thanks to the Verizon iPhone 4 going on sale), but other product lines helped too as new customers flocked to their retail stores around the world.
Apple has said that retail revenue is up 90 per cent and that stores delivered a record Mac quarter with half of Macs sold in stores during the quarter were to customers who had never bought a Mac before.
Apple actually sold 3.76 million Macs during the quarter, a 28 per cent unit increase over the year-ago quarter, presumably helped by the introduction of the MacBook Air in late 2010.
“With quarterly revenue growth of 83 per cent and profit growth of 95 per cent, 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.”
However it’s not all good news, iPod sales were down once again and the iPad didn’t perform as well as expected.
Apple sold 9.02 million iPods (17 per cent down), and 4.69m iPads in the quarter.
“We sold every iPad 2 that we made during the quarter, and would like to have more channel inventory,” said Tim Cook in the earnings report conference call.
Analysts who estimated that Apple would sell around 7m iPads in the last three months suggest the poorer than expected figures are because of a lack of stock immediately after the launch of the iPad 2 and the public waiting for the new model to come out.
International sales were up 59 per cent, helped by strong demand in countries like China.