Tuesday, April 24, 2012

Apple announces 11.8 million iPads sold in fiscal year Q2; 94% increase in profits on $39.2 billion in total sales

Apple has just announced its Q2 earnings and the top line shows a 94 percent rise in net profits on $39.2 billion in revenue, $11.6 billion in net profits for what is its second quarter of the year.

iPad sales came about where they were expected: 11.8 million units. Here where iPad unit sales stand to date:

2010 Q3 3,270,000
2010 Q4 4,188,000
2011 Q1 7,331,000
2011 Q2 4,694,000
2011 Q3 9,246,000
2011 Q4 11,123,000
2012 Q1 15,434,000
2012 Q2 11,800,000

Total units = 67,086,000
Apple's iPad sales represent a 151 percent increase over the sale quarter last year, quite a disappointment for those naysayers who hate the name "new iPad", no doubt, but less than some analysts were forecasting. (Analysts, what can one say about analysts.)

The company also reported 35.1 million iPhone sales in the quarter, a 88 percent increase over the same quarter in 2011.

“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” said CEO Tim Cook, in Apple’s announcement. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”

The earnings conference call will now follow (5 EDT), and the team at BI, who have been bad mouthing the stock all week, will be slitting their throats shortly thereafter. (No, they are just turning around and pretending none of those posts were ever written. Amazing.)

Later note: I don't own Apple stock so have no skin in this game. But those websites that obviously have a conflict of interest in their reporting need to just go away. Stop playing the forecast game and start just reporting. (It will never happen, I know.)