Apple Posts Record Second Quarter Profits, 95% Growth

Apple has posted profit growth of 95 percent for the fiscal 2011 second quarter ended in March, compared to its net quarterly profit in the year-ago quarter. The company recorded profits of $5.99 billion, up from $3.07 billion for the same quarter last year. Revenue also increased, up 83 percent to $24.67 billion, from $13.5 billion. The Cupertino, CA-based iPhone and iPad creator noted that international sales accounted for 59 percent of the quarter’s revenue. The March quarter saw Apple sell 3.76 million Macs units, up 28 percent over the year-ago quarter, and 18.65 million iPhones, up 113 percent. 4.69 million iPads were sold, while the iPod saw a 17 percent decline, with 9.02 million iPods sold. "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." Steve Jobs, CEO at Apple, noted, "With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders. We will continue to innovate on all fronts throughout the remainder of the year." Earlier in the week, Apple revealed total worldwide sales of over 187 million iOS devices through March, including 108 million iPhones, 60 million iPod Touches, and 19 million iPads.