The Cell Phone Junkie

Apple Tuesday announced their Q1 2012 earnings, reporting record revenue and blowout results for nearly every category.  Apple finished the quarter with $46.33 billion in revenue, and net profit of $13.06 billion.  The Company sold 37.04 million iPhones in the period, representing 128 percent unit growth over the year-ago quarter. Apple sold 15.43 million iPads during the quarter, a 111 percent unit increase over the year-ago quarter.  In other categories, Apple finished with 5.2 million Macs sold, a 26 percent increase, while only 15.4 million iPods were sold, a 21 percent decrease from last year.

In comparison to the nearest competition, the 37 million iPhones sold is 2 million more than Samsung sold during their last reported quarter.  Sales of iPhones and accessories accounted for $24.4 billion of the $46 billion in revenue.  Apple now has over $97 billion in cash on hand.

Apple’s investors loved the numbers, as After Hours trading of the stock was up over 7%, pushing the company over the $450 per share mark for the first time, and breaking the $420 billion market cap, meaning Apple is back in the number 1 spot for valuation ahead of Exxon again.

Other notes from the conference call include:

• 85 million customers are now using iCloud.
• 1.4 million Apple TVs were sold last quarter, though Tim Cook still considers the device a hobby, albeit, one he “couldn’t live without”.

Cook fired off an email to employees following the call, congratulating them on the great start to 2012, and invited everyone to a town hall Thursday where they would review the earnings and talk about new things going on at the company.

Press Release:

CUPERTINO, Calif.–(BUSINESS WIRE)–Apple® today announced financial results for its fiscal 2012 first quarter which spanned 14 weeks and ended December 31, 2011. The Company posted record quarterly revenue of $46.33 billion and record quarterly net profit of $13.06 billion, or $13.87 per diluted share. These results compare to revenue of $26.74 billion and net quarterly profit of $6 billion, or $6.43 per diluted share, in the year-ago quarter. Gross margin was 44.7 percent compared to 38.5 percent in the year-ago quarter. International sales accounted for 58 percent of the quarter’s revenue.

The Company sold 37.04 million iPhones in the quarter, representing 128 percent unit growth over the year-ago quarter. Apple sold 15.43 million iPads during the quarter, a 111 percent unit increase over the year-ago quarter. The Company sold 5.2 million Macs during the quarter, a 26 percent unit increase over the year-ago quarter. Apple sold 15.4 million iPods, a 21 percent unit decline from the year-ago quarter.

“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” said Tim Cook, Apple’s CEO. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”

“We are very happy to have generated over $17.5 billion in cash flow from operations during the December quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2012, which will span 13 weeks, we expect revenue of about $32.5 billion and we expect diluted earnings per share of about $8.50.”

Apple will provide live streaming of its Q1 2012 financial results conference call beginning at 2:00 p.m. PST on January 24, 2012 at www.apple.com/quicktime/qtv/earningsq112. This webcast will also be available for replay for approximately two weeks thereafter.

Source: 9to5Mac – Business Insider