Apple just released its third-quarter earnings, and as expected it’s yet another record-breaking quarter for the company.
Apple blew away analyst expectations with revenues of $28.57 billion at $7.79 per share and $7.31 billion in profit. Apple last year reported $15.70 billion in revenue with $3.25 billion in profit for the quarter. This year’s results represent a 82 percent increase in revenue and 125 percent jump in profit.
At the time of this post, the company’s stock is sitting at $397 in after hours trading.
Thomson Financial expected revenues of $24.75 billion for the quarter, and Apple itself projected a very conservative $23 billion in revenue at $5.03 a share. Apple says that 62 percent of sales from the quarter came from international sales, which tells us that greater international availability of the iPhone and iPad has paid off well.
Apple sold 20.34 million iPhones (a 142 percent jump over last year) and 9.25 million iPads (a 183 percent increase over last year). The iPhone numbers are slightly above the high range of what Wall Street analysts expected in a Fortune poll, while the iPad figures are slightly below what they expected. The iPad 2 faced production shortages since its release, and this year’s devastating earthquake in Japan certainly didn’t help to speed things up.
It’s worth noting that iPad sales were a problem for Apple in its second quarter earnings report in April, though I don’t think the company is as worried about the healthy iPad sales this quarter.
Apple sold 3.95 million Macs (a 14 percent increase over last year) and 7.54 million iPods (a 20 percent decline from a year ago). With more consumers jumping on the iPhone, it’s perhaps not that surprising that the iPod is finally beginning to lose its luster. I also imagine that many consumers spent any money saved up for a new iPod on an iPad instead.