Apple Jan-Mar net up 95 % to $5.99 billion

Apr 21, 2011 |

New York

Tags:

Apple iPhone

Apple has reported a 95 per cent jump in net profit to $5.99 billion in the January-March quarter of 2011 on strong sales of iPhone and Mac computers.

In the year-ago period, the entity had a net income of $3.07 billion, Apple said in a statement.

The company's total sales increased to $24.66 billion in the second quarter ended March 26, 2011 from $13.49 billion in the same qaurter in 2010. Thus representing a gain of 83 per cent.

"With quarterly revenue growth of 83 per cent and profit growth of 95 per cent, we're firing on all cylinders,

"We will continue to innovate on all fronts throughout the remainder of the year," Apple CEO Steve Jobs said in the statament.

During the quarter, Apple sold 18.65 million iPhones, representing 113 per cent unit growth over the year-ago period.

In addition, the company sold 3.76 million Macs, a 28 per cent unit rise over the year-ago period. It also sold 4.69 million iPads during the quarter.

While the company has registered a decline in iPods sale. It sold 9.02 million iPods, a drop of 17 per cent from the year-ago quarter.

"We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion," Apple CFO Peter Oppenheimer said.

Looking ahead, the company expect revenue of about $23 billion and expect diluted earnings per share of about $5.03 in the forthcoming quarter.

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