Apple profits almost double on iOS product sales leap
A money making machine with just one button
Apple sold buckets more iPhones and iPads in its second quarter, helping it almost double net income year on year to $11.6bn and driving up gross margins.
The purveyor of magical and revolutionary shiny things turned in sales of $39.2bn for the quarter ending March 31, a 59 per cent rise on the year.
However, net income leapt 94 per cent to $11.6bn.
This yielded earnings per share of $12.30, well above the analysts' estimates of $10.06. Gross margins were 47.4 per cent, compared to 41.4 per cent a year ago.
The trigger for those numbers wasn't hard to find. Apple shifted 35.1 million iPhones in the period, an 88 per cent jump on the year, and iPad sales were up 151 per cent to 11.8 million.
Mac shipments were up a comparatively piddling 7 per cent to 4 million, while iPod shipments slipped 15 per cent to 7.7 million. ®
Ouch, that must sting Microsoft
Wonder how Ballmer's feeling? Must be pretty lonely when you can't compete because you were asleep at the helm and sailed right past the opportunity. Wouldn't be surprised his shareholders revolted.
Still, we've a half-baked Windows 8 to look forward to. That'll really worry Apple.
>If I had that money I'd be balls deep in some serious patent litigation.<
I'd be balls deep in naked bodies, drugs and parties - on my own island, somewhere hot...
That margin should worry their competitors - they can afford to drop prices / improve specs while competitors struggle to even match their prices on things like the iPad and MacBook Air.
There is no tablet to match the spec of the new iPad - others come close to the iPad 2 perhaps but not significantly cheaper if at all.
Gross margin at 47.4% is exceptional.
64% of revenue from international shows just how far Apple has come from being very US sales centred.
Almost 50 million iOS devices sold in one quarter, making over 350 million to date.
Looking forward to the iPad v Android v Windows 8 tablet clash come later this year.
Well done Apple - well deserved.