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A dramatic increase in both iPhone and iPad sales saw Apple more than double its profits in the quarter ending June 25: the $7.31 billion it reported for the period is 125 percent higher than in the same period last year.

Frank Cifaldi, Contributor

July 19, 2011

1 Min Read

Apple more than doubled its profits in its third fiscal quarter, the company said Tuesday. For the period ending June 25, the company reported a net profit of $7.31 billion, a 125 percent increase from the $3.25 billion it reported in the same period last year. Revenues were reported at $28.57 billion, up from $15.70 billion during the third quarter in 2010. International sales accounted for 62 percent of that figure, the company said. During the quarter, Apple sold 20.34 million iPhones, representing a 142 percent increase from the amount sold one year ago. That increase is attributed to the company adding 42 new carriers and 15 new countries during the period, the company said during a conference call this afternoon (as reported by CNET). Its iPad sales fared even better: the 9.25 million sold represents a 183 percent increase, due in part to the company increasing production to meet demand. "We are extremely pleased with our performance which drove quarterly cash flow from operations of $11.1 billion, an increase of 131 percent year-over-year," said Peter Oppenheimer, Apple’s CFO. "Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50." iTunes revenue was up 36 percent at $1.4 billion, the company said, with $2.5 billion cumulatively paid to App Store developers. The company also announced that its next Macintosh operating system, OS X Lion, will launch Wednesday. To date, 222 million iOS devices have been sold worldwide, the company said.

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About the Author(s)

Frank Cifaldi


Frank Cifaldi is a freelance writer and contributing news editor at Gamasutra. His past credentials include being senior editor at 1UP.com, editorial director and community manager for Turner Broadcasting's GameTap games-on-demand service, and a contributing author to publications that include Edge, Wired, Nintendo Official Magazine UK and GamesIndustry.biz, among others. He can be reached at [email protected].

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