Apple Reports Q3 Earnings, Exceeds Estimates Once Again

July 20th, 2011 at 12:59 pm
 


It seems that the tech giants are reporting quite great numbers for earnings lately. Despite some economic issues here and there, tech companies like Apple don’t seem to be affected at all. This iPhone maker has recently reported its earnings for the third quarter of the fiscal year. Once again, it has exceeded estimates.

Apple reported recently its third quarter results for the 2011 fiscal year that ended June 25. According to its press release, Apple has posted a record quarterly revenue of $28.57 billion, which translates to a net quarterly profit of around $7.31 billion. Now that is quite a profit for a quarter. The numbers also gave a $7.79 in earnings per diluted share.

When setting comparisons from the same period last year, the current gross margin was 47.7 percent compared to 39.1 percent last year. Probably the biggest reason for the big jump in revenues that beat analyst’s estimates was due to international sales of its many popular products, which accounted for 62 percent the current quarter’s revenue.

During the 3rd quarter, Apple reported of selling 20.34 million iPhones, which showed a 142 percent growth compared to the same quarter last year. Apple also sold 9.25 million iPads during the 3rd quarter, which translates to a 183 percent increase compared to sales over the same quarter last year. Even the sales of Macs were up 14 percent from the sales figures of the same quarter last year, with Apple reporting 3.95 million unit sales. The only downside to the current sales report may be that of iPod sales. Apple reported 3rd quarter sales of 7.54 million iPods, a 20 percent decrease compared to the same quarter last year.

Overall, Apple may be on its best quarter yet. Record sales has translated into a 125 percent jump in profits for the quarter for an 82 percent increase in quarterly revenues. The good showing may have improved Apple’s estimates for the next quarter. It is expecting to garner a revenue of around $25 billion and diluted earnings per share at around $5.50. By looking at the last quarter’s results, it may be quite achievable for Apple, since the fourth quarter will include the sales of the new MacBook Air and Mac OS Lion. The company may yet beat their own modest expectations for the next quarter once more.

 

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