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Led by 11.8M iPads and 31.1M iPhones sold, Apple reports another bang up quarter

by David Needle

April 24 2012

Apple CEO Tim Cook: "Expect a lot more innovation from Apple this year."
Apple CEO Tim Cook: "Expect a lot more innovation from Apple this year."

Apple reported $11.6 billion in profit for its most recent quarter today powered by stronger than expected iPhone sales and another big jump in iPad sales.

An interesting tidbit from the conference call Apple had with analysts after the results were released is that the company has sold 67 million iPads through March 31; by contrast it took 24 years to sell that many Macs. 

Apple also said 94% of Fortune 500 companies are testing or deploying iPads and 74% of the global 500 are doing so as well. 

The company’s revenues ($39.2 billion) and profit ($12.30 per share) also easily beat analysts expectations that were about $36.81 billion and $10.06 earnings per share. 

If it wasn’t clear already, the latest quarterly results continue an undeniable trend that Apple’s revenue and a good chunk of its profits are being driven largely by its iOS devices (iPhone, iPod, iPad). The 4 million Macs sold in the quarter represent only a 7% increase from a year ago; iPod sales actually sagged, declining 15% in the quarter). 

The 35.1 million iPhones in the quarter is a bump of 88% from the same quarter a year ago, while the 11.8 million iPads sold are an impressive 151% increase from the year-ago quarter. 

Apple not only sold more devices, it made more on each sales; the company reported its gross margin for the quarter was 47.4% compare to 41.4% a year ago. Overall Apple’s net Profit increased 94% from a year ago.

CEO Tim Cook said he was “thrilled” with the iPhone and iPad sales numbers. While he didn’t say anything specific about new products in the pipeline (such as rumors Apple may be planning to release a smaller version of the iPad) Cook did say: “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”

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