Apple today announced financial results for its fiscal 2011 first quarter ended December 25, 2010. The Company posted record revenue of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share. These results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion, or $3.67 per diluted share, in the year-ago quarter. Gross margin was 38.5 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
Apple sold 4.13 million Macs during the quarter, a 23 percent unit increase over the year-ago quarter. The Company sold 16.24 million iPhones in the quarter, representing 86 percent unit growth over the year-ago quarter. Apple sold 19.45 million iPods during the quarter, representing a seven percent unit decline from the year-ago quarter. The Company also sold 7.33 million iPads during the quarter.
“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” said Steve Jobs, Apple’s CEO. “We are firing on all cylinders and we’ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can’t wait to get their hands on.”
“We couldn’t be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90.”
Apple will provide live streaming of its Q1 2011 financial results conference call beginning at 2:00 p.m. PST on January 18, 2011 here. As usual, MacDailyNews will provide live notes of the conference call (traffic is heavy, so thank you in advance for your patience!)
Analysts’ consensus estimates called for $5.38 EPS on revenue of $24.38 billion (vs. Q110 results of $3.67 EPS on revenue of $15.68 billion). On October 18, 2010, Apple CFO Peter Oppenheimer provided the following guidance: “Looking ahead to the first fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $4.80.”
“Apple crushes Street, reports record earnings”
You can simply copy and paste that as your headline every quarter and it always holds true…
I would give every penny of it away if I could give Steve Jobs another 30 years!
BOOM! Goes the dynamite.
4.1 million Macs? Whoa. iPad is just getting started.
We are participating in history making events. It started for me in 1982 with the Lisa Apple Computer and now I’m waiting for my new iPad.
I’m doing the happy dance.
Just… Wow!
It couldn’t happen to a nicer company. Thanks Steve & Co.!
So the iPad did not cannibalize Mac sales as some predicted, or even cause a plateau. If anything, the iPad seems to have stimulated Mac sales.
Breathtaking!
@binarypackrat Same here!
Go AAPL!!!
Onward and upward!!!
Thanks, Steve, et al.
Apple forever!!!!
@ mark
I agree! You love your iPhone , now your iPad, why wouldn’t you look at a Mac as your next computer
As usual, wonderful company! Amazing Steve, get well soon!
And people laughed at me when I bought 1000 Apple shares at $22 back in the 90’s. Who laughing now??? Me! Can you say Retirement Bonus??
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Apple still has a lot of “headroom” for growth.
Holy Crap Marie!
Hey Monkey Boy, Bite Me ☚
Pardon my French, but that is one motherfsckin’ huge pile of cash whichever metric you choose to focus on.
It doesn’t seem that long ago that AAPL was breaking $26 billion for a whole financial year and now they do it in a quarter.
For those who like their schadenfreude thickly spread (and let’s be honest, who doesn’t?): Apple quarterly sales are now roughly equivalent to Dell’s market cap.
All together now:
“What would I do? I’d shut it down and give the money back to the shareholders,” Michael Dell said before a crowd of several thousand IT executives.
What was it the Greeks said about hubris?
Well, they met all my benchmarks, especially the 7 million iPads.
For once, R2 has no reason to be disappointed with these results.
So, based upon a $5 guidance, I think it’s fair to say this year’s EPS conservative target is about $21.50, and at a 20 multiple, price targets starting tomorrow should be around $430.
Hope you bought more!!!
I did! My $100k wire transfer didn’t clear this morning until 1pm, so I missed picking up 300 shares for $339, had to settle for 290 shares at $341, a minute before market close. Now I’m back over 2000 Apple shares.
Long live Apple and Steve Jobs! Keep the joy coming!
Great News today
” width=”19″ height=”19″ alt=”grin” style=”border:0;” /> Yet by end of FY11 on Sept. 30, 2011 — Apple Inc. will make about $86 Billion bucks! Each three months will be record profits!!
So, 2011 = $422 = AAPL! BUY! BUY!!
… Steve Jobs = Great job and to your health!
Steve Ballmer pulls out what’s left of his hair as he is heard saying, we copy their products, their business model, why not the ability to copy their earnings report?! Why?!!!!…
The ‘Yoda’ hologram of Bill Gates appears…. and was heard to have said, “Because you are an idiot Ballmer!”… then the hologram fizzled out, followed by a “Blue Screen of Death”…
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