See Search Box
lower down this column for searches of Finfacts news pages. Where there may be
the odd special character missing from an older page, it's a problem that
developed when Interactive Tools upgraded to a new content management system.
Finfacts is Ireland's leading business information site and
you are in its business news section.
Apple on Wednesday announced a
stunning fiscal 2011 second quarter, which ended March 26, 2011,
with 83% revenue growth, 95% profit growth record and iPhone sales up 113%.
The company reported record
second quarter revenue of $24.67bn and record second quarter net profit
of $5.99bn, or $6.40 per diluted share. These results compare to revenue
of $13.50bn and net quarterly profit of $3.07bn, or $3.33 per diluted
share, in the year-ago quarter. Gross margin was 41.4% compared to 41.7%
in the year-ago quarter. International sales accounted for 59% of the
a conference call, Tim Cook, Apple's chief operating officer, said:
"Apple employees have literally been working around the clock with our
supplier partners in Japan and have been able to implement a number of
contingency plans." He said there were "some supply risks"
beyond the current quarter, but there was "no
issue today that we view as unsolvable."
On Steve Jobs, 56 years old
co-founder, who has had pancreatic cancer in the past, a live
transplant and is on medical leave, Cook said he continues to be
involved in major strategic decisions in the company.
"He is still on medical
leave, but we do see him on a regular basis. And as we previously said,
he continues to be involved in major strategic decisions. I know he
wants to be back full-time as soon as he can."
Apple sold 3.76m Macs during
the quarter, a 28% unit increase over the year-ago quarter. The company
sold 18.65m iPhones in the quarter, representing 113% unit growth over
the year-ago quarter. Apple sold 9.02m iPods during the quarter,
representing a 17% unit decline from the year-ago quarter. The company
also sold 4.69m iPads during the quarter.
revenue growth of 83% and profit growth of 95%, we’re firing on all
cylinders,” said Steve Jobs.
“We will continue to innovate on all fronts throughout the remainder of
“We are extremely
pleased with our record March quarter revenue and earnings and cash flow
from operations of over $6.2bn,” said Peter
Oppenheimer, Apple’s CFO. “Looking ahead to the
third fiscal quarter of 2011, we expect revenue of about $23bn and we
expect diluted earnings per share of about $5.03.”
Apple's results and outlook pushed up its shares in
after-hours trading by 3.9% to $355.69 after closing at 4 p.m. at $342.41. The
market capitalisation was $315.45bn compared with Microsoft's $216.45bn and
In 1997, Michael Dell advised the reinstalled Steve
Jobs, to wind down Apple and return anything left to its shareholders.