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Apple Update: Profits Almost Double on iPad and iPhone sales

Apple

Apple

SAN FRANCISCO -Apple Inc.s’ (AAPL) fiscal second-quarter profits almost doubled as the authority in consumer electronics reported powerful sales of its iPad, iPhone and Mac products.

According to the latest update: Apple profits are up 94% compared to last year; highest were the iPad, iPhone and Mac sales in 2012s first quarter; and total cash sales are above the $110 billion mark.

Shares increased 7.2% to $600.76 in trading after hours, and for a while went above $600 again as the results topped all expectations of analysts. Apple reports that it was the most ever in earnings and revenue for a March quarter.

According to chief financial officer Peter Oppenheimer, the retail sales was a record, and he called it the most amazing ever.

Launch of the iPad

It was a huge quarter for Apple’s iPhone as it launched the 3rd-generation tablet in the middle of March and chopped the launch price to $399 for the iPad2. Although this move was a belated one, it still sold 11.8 million tablets during the first-quarter, up from 151% last year.

iPhone sales

The number of iPhones sold was also strong. Apple sold 35.1 iPhones, an 88% increase from last year. This out did the growth of the smartphone market overall, wherein sales grew 42% year-over-year.

Apple retail and Mac growth

The sales of Macs also set an Apple record. 4 million Macs were sold – an increase of 7% from last year. The complete PC industry advanced 2% over the March quarter, which makes it six years that Mac was the leader of the pack for PCs generally.

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Posted by on Apr 24 2012. Filed under Business. You can follow any responses to this entry through the RSS 2.0. Responses are currently closed, but you can trackback from your own site.

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