Apple Q2 Profit Nearly Doubles On Strong iPhone, Mac sales and The Verizon Service Debut

Apple Inc did not disappoint anyone, including fanboys and haters, by posting a better than expected March quarter (fiscal year Q2 2011) sales and profits , with enormous increases in iPhone and Mac shipments (i.e. sales). iPad sales did disappoint, and were much lower than projected – coming in at just 4.69 million shipped (sold), versus street expectations of around 7 million shipments (sales).

Apple Q2 2011 Earnings – Key Stats and Numbers

  • Net Income: 6 billion
  • Revenue: 24.67 billion actual vs. $23.34 billion (projected by Wall Street analysts)
  • Earnings Per Share (EPS): $6.40 per share actual vs. $5.36 (projected by Wall Street analysts)
  • iPad shipments : 4.7 million units sold vs. 6.2 million units (projected by Wall Street analysts)
  • iPhone shipments : 18.65 million iphone units sold actual vs. 16.6 million units (projected by Wall Street analysts)
  • Mac shipments : 3.76 million Mac units sold vs 3.6 million units (projected by Wall Street analysts)
  • iPods sales : 9 million iPod units sold (lower year over year) but higher than estimated by the street.
  • iTunes revenue : $1.4 billion by 2,500 publishers

apple steve jobs money printing earnings photo pic

Apple March Quarter 2011 Earnings Details

During the quarter, Apple shipped 18.65 million iPhones units – more than double the number of units shipped year-over-year – and 3.76 million Mac units – a 28% increase year-over-year.

Apple’s Net income in the fiscal second quarter rose to nearly $6 billion ($5.99 billion to be precise) compared with $3.07 billion in the previous year.

Earnings per share also nearly doubled, coming in at $6.40 a share versus $3.33 a year earlier.

This is a very strong performande by Apple considering that the Cupertino based company is grappling with supply shortages (batteries mostly) in part due to the March earthquake+Tsunami disaster in Japan.

Checkout the full earnings report here on Apple’s Press site.

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