As against the figures predicted by The Street, Apple out performed the same, earning bigger revenues for the first fiscal quarter. It is being reported that Apple Inc has ear-lined revenues of $46.3 in the first quarter, the net profit being $13.87 per share
The analysts had predicted the revenues of $39 billion to $43 billion and earning per share to be $10.19 to $12.01, but clearly the results revealed by the Apple Inc has flamboyantly out performed the expectations. Sterne Agee’s Shaw Wu, in the note to the clients confessed on Tuesday that he expected Apple to announce sales of 29.5 million iPhones and 13.5 million iPads. In fact, the company has sold 37 million and 15.4 million, respectively.
However the quarter is also special for various other remarkable reasons as well. Apple Inc, which as of now had the reputation of being a closed and secretive organization, released chunks of information on Tuesday. Excerpts from the same are give below –
- Apple sold 37 million iPhones in the quarter, a 128% jump over the comparable quarter in 2010.
- iPad sales hit 15.4 million, a rise of 111%.
- Mac sales were 5.2 million, an increase of 26%.
- Apple sold 15.4 million iPods, a number which is down 21% as the iPhone cannibalizes sales of more limited-function devices
- Apple now has $97.6 billion in cash on hand.
- Revenues from iTunes hit $1.7 billion. More than 140 million apps and pieces of content were downloaded on Dec. 25.
- There are 1.5 million iPads being used by educational institutions
- iCloud has 85 million users. There are now 550,000 apps available. Developers of such apps have earned more than $4 billion, $700 million in Q1.
Apple Stores produced $6.1 billion in revenues for the quarter. The average revenue per store was $17.1 million vs. $12 million last year. There are about 22,000 visitors per store per week.
The introduction of the iPhone 4S in the market has obviously played a key role in lifting up the sales figures but the strong performance put up by the iPad in the market provides that the Kindle Fire Introduced by Amazon was insufficient to affect the sales of the Apple’s popular products. As compared to the previous year’s quarter results, the sales of Apple iPhone has risen by 128 percent and the sales of iPad has grown up to 21 percent.