Apple announces $5.99 billion profit‎


Company sells 18.65 million iPhones and 4.69 million iPads in the quarter as profits soar by 95 per cent

A 113 per cent increase in iPhone sales contributed heavily to Apple posting a record second quarter net profit of $5.99 billion for the period ended 26 March – a 95 per cent increase from $3.07 billion in the same period last year.

The California based electronic manufacturer sold a total of 18.65 million iPhones and 4.69 million iPads during the period, as well as 3.76 Mac computers and 9.02 million iPods.

Apple said 59 per cent of the total $24.67 revenue it produced for the quarter came from international sales.

Speaking about the results Apple chief executive Steve Jobs said: “With quarterly revenue growth of 83 per cent and profit growth of 95 per cent, we’re firing on all cylinders. We will continue to innovate on all fronts throughout the remainder of the year.”

Apple chief financial officer Peter Oppenheimer added: “We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion.”

“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”.