Apple reports Q2 earnings; iPhone beats the Street, iPad misses big, profit up 95%
Apple reports Q2 earnings; iPhone beats the Street, iPad misses big, profit up 95%
Apple on Wednesday reported earnings for the second quarter of fiscal 2011. Reports from Tuesday suggesting Apple might miss iPad sales estimates were accurate as Apple reported second-quarter sales of only 4.69 units compared to 7.33 million iPads last quarter. Analyst estimates fell between 6 and 8 million iPads for the March quarter. Apple’s iPhone sold 18.65 million units globally in the second quarter compared to 8.75 million units in the same quarter last year and 16.24 million units in the first quarter of fiscal 2011. iPod sales came in at 9.02 million units, down from 10.89 million in the second fiscal quarter of 2010 and 19.45 million last quarter. Wall Street was expecting 16 million iPhones and 9.9 million iPods in the quarter. Mac sales narrowly beat the Street’s estimates of 3.6 million units, totaling 3.67 million units in the March quarter, up from 2.94 million last year and down from 4.13 million from last quarter. Revenue for the second quarter came in at $24.67 billion and Apple recorded $5.99 billion in profit, up 95% from $3.07 billion in the same quarter last year. Apple noted in its earnings call that the earthquakes in Japan will not affect Apple’s supply chain or its products in the third quarter. The company’s full press release can be seen after the break. More →















