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Apple posts record Q1 2011 resultsBy Hanleigh Daniels 19 January 2011 | Categories: news
Apple announced its financial results for its fiscal 2011 first quarter that ended on 25 December 2010. The Cupertino-based company posted record revenue of $26.74 billion as well as a record net quarterly profit of $6 billion, compared to the previous year’s Q1 results of $15.68 billion revenue and $3.38 billion net quarterly profit.
The company sold 4.13 million Mac computers during the quarter, which is a 23% unit year-on-year increase, as well as 16.24 million iPhones, up a massive 86% over the year-ago quarter. Cupertino also sold 7.33 million iPads during the quarter, while sales of the company’s iPods, declined by 7% from a year ago, with Apple only selling 19.45 million iPods 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,” stated 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.”
International sales accounted for 62% of the quarter’s revenue. The company’s influential CEO and co-founder Steve Jobs also recently announced that he will be taking a medical leave of absence from Apple.
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