Today, Apple had its Q4 quarterly earnings call. During the call, Apple announced that fourth quarter profits rose nearly 54 percent to $6.62 billion, or $7.05 per diluted share, driven by record sales of more than 11 million iPads and nearly 5 million Macs. Surprisingly, these numbers are considered to be “below expectations” by analysts/Wall Street and this was Apple’s first miss since 2002. Clearly, these numbers weren’t a miss and goes to show how high Apple has set the bar for themselves.
Apple also announced that they saw a quarterly revenue of $28.27 billion and quarterly net profit of $6.62 billion, or $7.05 per diluted share for the three-month period ending September 24, 2011. These numbers compare to revenue of $20.34 billion and net quarterly profit of $4.31 billion, or $4.64 per diluted share, in the year-ago quarter.
We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion,said Tim Cook, Apple’s CEO. Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline.
In addition, Apple sold 17.07 iPhones during the quarter as it drew down inventories ahead of this month’s iPhone 4S launch, still representing 21 percent unit growth over the year-ago quarter. It was also reported that new quarterly records for iPad sales at 11.2 million units and Macs at 4.89 million units, an increase of a 166 percent and 26 percent, respectively.
The company also reported that they saw a record low sale 6.62 million iPods, a 27 percent unit decline from the year-ago quarter. Gross margin was 40.3 percent compared to 36.9 percent in the year-ago quarter and International sales accounted for 63 percent of the quarter’s revenue.
You’ll be able to listen to a replay of the call here beginning 5 PM PST.