Apple achieves US$13bn profit on sales of US$46.3bn – new products coming

24 Jan 2012

Apple's CEO Tim Cook, who showed that Apple can still deliver and suprise. 'We have some amazing new products in the pipeline,' he said

Stellar sales of iPhones, iPads and Mac computers propelled technology giant Apple to report a stunning Q1 result of sales of US$46.3bn, delivering a profit of US$13bn. The results were being eagerly watched as a test of CEO Tim Cook’s role at the helm since the passing of the visionary Steve Jobs.

Apple’s Q1 results compare with Q1 2011 revenues of US$26.7bn and a profit of US$6bn this time last year. They are also a massive leap ahead of Q4 2011 revenues of US$28.3bn, with profits more than doubling in Q1.

Thrilled with the record-breaking sales of iPhones, iPads and Macs, Cook said: “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”

In what was an amazing performance, Apple sold 37.04m iPhones in the quarter, representing 128pc unit growth over the year-ago quarter.

The company sold 15.43m iPads during the quarter, up 111pc on last year.

During the quarter, Apple sold 5.2m Macs, up 21pc on last year.

However, the decline of the iPod continues, with sales down 21pc to 15.4m iPod devices sold.

Apple sold 15.4m iPods, a 21pc unit decline from the year-ago quarter.

Apple predicts US$32bn in revenues in Q2

Apple’s CFO Peter Oppenheimer revealed Apple generated more than US$17.5bn in cash flow from operations during the quarter.

“Looking ahead to the second fiscal quarter of 2012, which will span 13 weeks, we expect revenue of about US$32.5bn and we expect diluted earnings per share of about US$8.50.”

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years