Apple Reports Record Revenue as iPhone Sales Soar

Sales of the Apple iPhone are up 113 per cent in Apples fiscal second quarter, compared to the same period in 2010. 

The company announced that it has sold 18.65m iPhones in the three-month period to 26 March. Apple also sold 4.69m iPads in its fiscal second quarter – with the iPad 2 launching just before the numbers were finalised. 

The company posted record second quarter revenue of $24.67bn (£15bn), and record second quarter net profit of $5.99bn, or $6.40 per diluted share. In the same quarter a year ago, the company posted $13.50bn and net quarterly profit of $3.07bn, or $3.33 per diluted share. Gross margin was 41.4 per cent compared to 41.7 per cent in the year-ago quarter. 

International sales accounted for 59 per cent of the quarters revenue.

“With quarterly revenue growth of 83 per cent and profit growth of 95 per cent, were firing on all cylinders,” says Steve Jobs, Apples CEO. “We will continue to innovate on all fronts throughout the remainder of the year.” 

Apples CFO Pete Oppenheimer says: “We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2bn. Looking ahead to the third fiscal quarter of 2011, we expect revenue of about $23bn.” 

Apples quarterly financial results conference call took place today, and the webcast can be replayed here