Cupertino, California based Apple yesterday announced financial results for its fiscal 2011 third quarter ended June 25, 2011.
Apple beat earning expectations by posting $28.6 billion of revenue and $7.3 billion of profit. These results compare to revenue of $15.70 billion and net quarterly profit of $3.25 billion, in the year-ago quarter. Gross margin was 41.7 percent compared to 39.1 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
Company sold 20.34 million iPhones, 9.25 million iPads, and 3.95 million Macs during the quarter. iPhone and iPad sales were beyond expectations but Mac sales were below expectations.
“We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent,” said Steve Jobs, Apple’s CEO. “Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.
Update: The company launched the latest version of its operating system OS X Lion.
This OS launch was also a reason that many potential Mac users were holing their purchase. Other potential Mac buyers are opting for an iPad instead.
Both ways it means gains for Apple.