tech champs

Apple Reports Record Earnings on Strong Holiday Sales

Posted by Shirley Brady on January 24, 2012 07:15 PM

The triumphant sub-headline on Apple's quarterly earnings report press release says it all: "Highest Quarterly Revenue and Earnings Ever All-Time Record iPhone, iPad and Mac Sales."

Its profits more than doubled, with record quarterly revenue of $46.33 billion and record quarterly net profit of $13.06 billion, and it now boasts a whopping $97.6 billion in the bank — more than the market capitalization of all but 52 companies. “We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” said Tim Cook, Apple’s CEO. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”

Covering the all-important holiday selling period through Dec. 31st, 2011, the company reported that international sales "accounted for 58 percent of the quarter’s revenue. The Company sold 37.04 million iPhones in the quarter, representing 128 percent unit growth over the year-ago quarter. Apple sold 15.43 million iPads during the quarter — beatimg the number of PC's that HP sold in the quarter, and a 111 percent unit increase over the year-ago quarter — xxx. The Company sold 5.2 million Macs during the quarter, a 26 percent unit increase over the year-ago quarter."

The only flat note: Apple sold 15.4 million iPods in the quarter, "a 21 percent unit decline from the year-ago quarter" — as the Los Angeles Times commented, "which is not terrible, because Apple did not upgrade most of the iPods available last Christmas."

The Wall Street Journal says "Apple’s soaring stock price in after-hours trading should make it the biggest, baddest and most valuable company in the U.S. by the time Wednesday trading rolls around. Apple, which has been jostling for months with Exxon Mobil for the top spot measured my market capitalization, should reclaim the throne when the market opens tomorrow after blowout earnings results. Howard Silverblatt, S&P’s senior index analyst, estimates Apple’s market cap could open tomorrow at $427.5 billion" to surpass Exxon’s $418 billion market cap.

In other good news for the brand, "Apple is likely the No. 1 smartphone maker, retaking (the top) spot from Samsung."

Comments

Jatinder Vijh India says:

If Steve Jobs was alive, he would have have said, " Profits is just a by -product of technological excellence and creativity". Hope Tim Cook continues with the passion of Steve Jobs to intersect technology with art, with no finishing line in march towards excellence.

January 25, 2012 02:43 AM #

Brenda United States says:

Couldn't some of that cash go towards hiring workers in the US and not encouraging the abuse of those poor Foxconn workers -- or at least go towards improving their conditions?

January 25, 2012 02:03 PM #

New Zealand United States says:

what is some fun online sites to blog on and make fun posts besides facebook and tumblr?

January 30, 2012 04:00 AM #

Comments are closed

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