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Apple continues to add to its war chest, sells record numbers of iPhones

It's beginning to become a broken record when reporting on Apple's quarterly earnings, but the boys from Cupertino have done it again. Apple today announced its earnings for fiscal Q1 2012 and the results are as usual very impressive.
 
The company reported net profit of $13.06 billion on revenue of $46.33 billion ($13.87 per diluted share). Profit for fiscal Q1 2012 was more than double that of fiscal Q1 2011, while gross margins came in at 44.7 percent compared to 38.5 percent a year ago.
 
“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” said Apple CEO Tim Cook. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”

 
As for product sales numbers, Apple sold 37.04 million iPhones during the quarter (a 128 percent increase) and 15.43 million iPads (a 111 percent increase). The company's Mac sales also saw an increase, but "only" saw a 24 percent increase year-over-year to 5.2 million units.
 
Apple iPods, however, continue their downward spiral in this age of digital convergence. Sales of the portable music players were down 21 percent to 15.4 million units.


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By sprockkets on 1/25/2012 12:21:52 AM , Rating: 3
Yeah, it's one thing when a company is forced to use China labor to be competitive.

It's a completely different scenario when you have 97 billion dollars in the bank.

But that's OK. In the earnings call, Tim Cook was not prepared for the demand of the iphone in china, so I guess they'll have to work 40 hour shifts now to compensate from the current 35 or so.


"You can bet that Sony built a long-term business plan about being successful in Japan and that business plan is crumbling." -- Peter Moore, 24 hours before his Microsoft resignation

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