Apple Records Q2 Revenue of $39.2B; 35.1M iPhones, 11.8M iPads Sold
April 24, 2012 4:30 PM
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Apple continues to put up impressive numbers
Over the past few months, Apple's stock value has been on a wild rollercoaster ride.
in early February, and passed by
$600/share in March
. The stock peaked at $644/share earlier this month, but has since plummeted back down to around $560/share (at market close today).
During Q1, Apple released its
third generation iPad
, which once again proved to be a sales blockbuster, breaking previous records set by the iPad 2. The company also released a revamped Apple TV during the quarter, but Apple’s “hobby” doesn’t exactly set enthusiasts’ hearts ablaze.
With that in mind, Apple today released its fiscal Q2 earnings report. The company reported revenue of $39.2 billion versus Wall Street estimates of $36.81 billion. Net profit rang in at $11.6 billion while earnings per share (EPS) came in at $12.10 versus a consensus of $10.04.
When it comes to device sales, the Cupertino, California-based company saw iPhone sales of 35.1 million (88 percent year-over year growth) -- during Q1, AT&T and Verizon alone activated
4.3 million and 3.2 million iPhones respectively
. When it comes to the iPad, Apple recorded the sale of 11.8 million units.
Apple’s Mac business saw a seven percent year-over-year increase to 4 million units. On the other hand, Apple’s once red hot iPod business saw a 15 percent year-over-year decline to 7.7 million units.
“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” said Apple CEO Tim Cook. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”
AAPL is up over 6 percent in after hours trading to $598.
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RE: Magical Numbers
4/24/2012 7:07:57 PM
Apple sold 35.1 million iPhones in the period
after releasing the latest model in China and 21 other countries
in January. That helped make up for
sales declines from the previous quarter at the top U.S. mobile-phone carriers
, Verizon Wireless and AT&T Inc.
It took releasing the device in 22 countries to beat estimates but Im waiting to hear about US sales figures as a whole where its on the decline of about 25%. At some point you run out of country launches to be able to offset declining interest in products. The question is can Apple maintain that momentum in China? Thats where I have serious doubts as the device is quite expensive and we may have just seen an influx of the rich able to afford such devices on the launch of the product in their country.
I can certainly see Apple coming with a 7" $300 tablet, iPhone 5 to keep momentum going a little longer but after that I think we will see them begin to run out of innovative ideas because Tim Cooke is no Steve Jobs.
"So, I think the same thing of the music industry. They can't say that they're losing money, you know what I'm saying. They just probably don't have the same surplus that they had." -- Wu-Tang Clan founder RZA
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