Apple has reported first quarter financial results for the fiscal quarter ended December 31, 2011.
Tim Cook's first quarter as Chief Executive Officer at Apple may have been fairly uneventful in terms of product launches (unless you count the iPhone 4S and the iBooks 2 announcement), but it has certainly been a successful one. The Cupertino-based company yesterday announced Q1 earnings for the FY2012 and revealed that it has had its best quarter on record.
Apple posted record quarterly revenue of $46.33 billion and record quarterly net profit of $13.06 billion, or $13.87 per diluted share. These results compare to revenue of $26.74 billion and net quarterly profit of $6 billion, or $6.43 per diluted share, for the same period a year ago. Gross margin was 44.7 percent, up from 38.5 percent in the year-ago quarter.
Apple said iPhone sales for the quarter saw a 128 percent unit growth over the same period last year, selling 37.04 million handsets. iPads also saw an increase of 111 percent compared to the year-ago quarter. The company shifted 15.43 million of the tablets in Q1FY12. Mac sales also rose, but not by nearly as much as the iPhone and iPad; Apple sold 5.2 million Macs, a 26 percent unit increase over Q1FY11. As usual, iPods were the combo-breaker, representing the only decline in sales. The company sold 15.4 million, which is a 21 percent decline compared to the same period last year.
"We're thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs," said Tim Cook. "Apple's momentum is incredibly strong, and we have some amazing new products in the pipeline."
However, this wasn't just a record breaker of a quarter for Apple. According to CNN's David Goldman, Apple's $46 billion in sales set a new tech record. Not only that, but the net quarterly profit of $13 billion, or $13.87 per share, was one of the most profitable quarters ever for any U.S. company, second only to ExxonMobil's $14.8 billion quarter in 2008.
Cook yesterday sent an email congratulating staff on the best quarter in company history and said he intends to discuss the "record-setting results and some exciting new things going on at Apple" at a Town Hall meeting scheduled for today.
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