Apple has notched up another impressive quarter. Its fiscal year 2011 Q2 results saw the company earn revenues of US$24.67 billion and record profits of US$5.99 billion (compare that to revenues of US$13.50 billion and profits of US$3.07 billion the same quarter a year ago). Over the quarter, it sold 3.76 million Macs, 18.65 million iPhones (a 113 percent increase over the year-ago quarter), 9.02 million iPods (a segment that continues to decline) and 4.69 million iPads.
“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.”
Wall Street analysts had expected iPad sales to come in between 6 and 8 million units. The shortfall appears to be due more to Apple’s inability to meet “staggering” demand for the iPad than to softening sales. Apple also only recognizes the revenue generated when customers receive the products, resulting in the deferral some sales to the next quarter. On the analyst call that followed, COO Tim Cook described the situation as “the mother of all backlogs.”
Apple expects to report US$23 billion in revenue for its third fiscal quarter of 2011.