toggle

AAPL Stock: 100.58 ( + 0.01 )

Printed from http://www.macnn.com

Apple jumps 70 percent to $26.74 billion in Q1 revenue

updated 04:45 pm EST, Tue January 18, 2011

iPhones, iPads drive income

Apple today posted the results of its first fiscal quarter for 2011, which ended in late December. The company pulled in $26.74 billion in revenue, rising more than 70 percent year-over-year, with a record net income of $6 billion or $6.43 per share, up from $3.38 billion or $3.67 per share. Gross margin slipped from 40.9 percent to 38.5 percent.

The 2011 revenue was based in large part on strong iPhone sales, grown 86 percent year-over-year to 16.24 million. Mac sales rose 23 percent to 4.13 million, while the company's first holiday-season iPad sales amounted to 7.33 million. iPods continued their long-term decline, falling 7 percent to 19.45 million.

Apple CFO Peter Oppenheimer notes that the company generated $9.8 billion in cash. "Looking ahead to the second fiscal quarter of 2011," he writes in a prepared statement, "we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90." CEO Steve Jobs is quoted as saying that the company had "record Mac, iPhone and iPad sales," and was "firing on all cylinders."






by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Life n Soul 8 Driver Bluetooth headphones

When it comes to music on the go, consumers generally have some options to consider when looking for the best experience. While Blueto ...

Pure Jongo T2 wireless speaker

Multi-room audio compatibility is a key metric for wireless sound systems these days. The entry cost into a house-spanning system can ...

Logitech Z213 multimedia speakers

Desktop computer speakers sit in a weird area of limbo: many consumers have forgone the era of desktop listening for the privacy and v ...

toggle

Most Commented