Apple today announced financial results for its fiscal 2011 first quarter which ended March 26, 2011. The Company posted revenue of $24.67 billion and net quarterly profit of $5.99 billion, or $6.40 per diluted share. These results compare to revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share, in the year-ago quarter. Gross margin was 41.4 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter’s revenue.
During the quarter Apple also sold 3.76 million Macs representing a 28 percent unit increase over the year-ago quarter. Apple also sold 18.65 million iPhones in the quarter, representing 113 percent unit growth over the year-ago quarter as well as 9.02 million iPods during the quarter, representing a 17 percent unit decline from the year-ago quarter.
Apple also reported iPad unit sales of 4.69 million.
“With quarterly revenue growth of 83 percent and profit growth of 95 percent, 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.”
“We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $5.03.”