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APPLE’S QUARTERLY PROFIT have hit record levels and its sales of the ubiquitous iPhone have soared according to its latest quarterly results.
The results show that Apple sold 37 million iPhones in the last three months of 2011, vastly exceeding expectations by analysts with 15.43 million iPads sold and 5.2 million Mac computers also sold, beating its previous mark of 4.9 million.
Revenue went up 74 per cent to a record $46.3 billion (€35.5bn) – analysts expected $39 billion - and profit more than doubled to $13.1 billion (€10bn).
“They just demolished it,” analyst Peter Misek of Jefferies & Co told the LA Times. “Everyone thought they were too big and … that they couldn’t pull off a surprise like this, but boy did they ever.”
Apple’s CEO Tim Cook said: “We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs. Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”
The phone sales are particularly noticeable as they accounted for 53 percent of Apple’s revenue in the quarter. This means Apple is set to regain the position it briefly held earlier last year of being the world’s largest maker of smart phones – beating Nokia and Samsung.
The company’s Chief Financial Officer Peter Oppenheimer said it expects earnings of $8.50 per share in the current quarter, and sales of $32.5 billion.
Both figures are above the average estimate of analysts polled by FactSet, even though Apple usually plays down its own estimates.
Apple ended the quarter with a cash balance of a staggering $97.6 billion. That’s more than enough to buy Citigroup outright, or issue a special dividend of $100 per Apple share, AP points out.
Not surprisingly, shares in Apple jumped by as much as 9 per cent in after hours trading.
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these guys can bail us out
These guys should run the country!
These guys don’t give shit to anyone……bloody love my iPhone though
We need to support risk takers and entrepreneurs in this country if we ever want to be able to report on an Irish company reporting these figures
32.5m Android devices were activated during the same period. Apples iOS is very quickly falling behind the Android platform. The iPhone 4s pales in comparison to the Samsung Galaxy S2
No it doesn’t.
it fair doesn’t, iphone is by far the best selling brand of phone , Samsung sell a lot but they have good knows how many varieties of phones
Spec wise The Samsung is better.
I f**kin love apple..
I’m a big apple fan and have been a loyal customer over 20 years now. I stuck with them through their bad times, now it’s time apple gave back to the people. These kind of profits are obscene.
There may be a backlash on the way. We need to give apple a wake up call.
So what do you suggest – stop selling or developing good product or perhaps give crap service?
It’s no wonder they do so well with a servile media making it front page news whenever someone in Apple Corp sneezes. I never read such a gushing puff piece.
Ha, some of the comments above paint a perfect picture of how a lot of Irish people view success.
Samsung or any other smart phone are a poor mans iPhone. It’s that simple. They will be forever in the iPhones shadow.
Apple products have always been over priced but obviously there are a lot of people willing to pay these higher prices resulting in obscene profits such as these.
I can’t see it continuing…the iphone was the best on the market but isn’t any longer. HTC & Samsung are seeing great sales and Nokia is back with a bang with the N9, Lumia 800 & 900.
On a related note Nokia has just shipped their 1.5 billionth(!!) Series 40 (S40) handset!
Hats off to Apple, they don’t have the best technology….but what they do have is brilliant marketing teams, top advertisers, great designs and simple attractive interfaces on all their products….oh and millions of loyal fans who will buy the products regardless of the fact that they aren’t always the best phones etc. …..and the same fans will try convince you they are the best.
I have so much respect for Apple as a company and what they have done for the industry but I also know that there are many superior products on the market that aren’t as fashion consious and therefore don’t sell as well.
I understand people being Man Utd fans, Munster fans, Shamrock Rover fans etc., but Apple fanboyism I just don’t get. Whenever somebody makes a negative comment about Apple they quickly need to take cover.
Surely Apple have a need for a good bank?
Does this mean they will pay taxes?
Does this mean they have been over financed by Irish Politicians?
Is this a good indicator of how to proceed with investment in Irish People?
This might be a good advertisement if they were an Irish company or is this taking the piss?
Apple bases their EMEA headquarters in Cork :0)
Shut the f*** up!!
@Dars K_Unofficial: Go and live in America you traitor.
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