Apple has just posted their Q2 2011 financial results and, hey, surprise! Record numbers all around despite some lower-than-expected sales numbers, with all-around profit sitting pretty at $5.99 billion. Read on for more details.
Posting a revenue of $24.67 billion this quarter, Apple managed to sell 4.69 million iPads this quarter, despite limited iPad 2 demand and the end of life of the first generation iPad. That’s still less than the 7 million iPads expected to be sold, though, but that seems to be a supply issue: Apple says they sold literally every iPad 2 they made this quarter, and could have sold even more if they could have made them. “We would like to have a lot more channel inventory,” Apple said obviously.
18.65 million iPhones and 3.76 million Macs were also sold this quarter, with Macs seeing a 28% sales increase over the year-ago quarter. iPhone growth was a little less than the industry anticipated, but still impressive.
iPods did less well, though: 9.02 million iPods were sold this quarter, which is a 17% unit decline. Who needs an iPod when you have an iPhone, right?
Overall, Apple posted a quarterly revenue growth of 83% this year, as well as a profit growth of 95%. At the end of the day, despite flagging iPod sales, this was the strongest non-holiday quarter in Apple’s history.
Steve Jobs, as he often does, says it best:
“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders,” said Steve Jobs, Apple’s CEO. “We will continue to innovate on all fronts throughout the remainder of the year.
Here’s what Apple did according to street consensus, courtesy of Business Insider:
March qtr. revenue: $24.67 billion vs. $23.34 billion Street consensus, $24.86 high Street estimate, $25.34 billion “blogger” consensus, $25.7 billion “real” expectations (based on prior performance vs. guidance)
March qtr. EPS: $6.40 vs. $5.36 Street consensus, $5.98 high Street estimate, $6.33 “blogger” consensus, $7.06 “real” expectations (probably too high)
March qtr. iPad shipments: 4.69 million vs. 6.2 million Street consensus (via Piper Jaffray), 6.8 million “blogger” consensus
March qtr. iPhone shipments: 18.65 million vs. 16.6 million Street consensus (via Piper Jaffray), 18 million “blogger” consensus
March qtr. Mac shipments: 3.76 million 3.6 million Street consensus (via Piper Jaffray), 3.7 million “blogger” consensus
June qtr. revenue guidance: $23 billion vs. $23.8 billion Street consensus, $23.4 billion Piper Jaffray expectations
June qtr. EPS guidance: $5.03 vs. $5.25 Street consensus, $4.73 Piper Jaffray expectations