How do you follow up a stunning Q1 where you set record quarterly earnings and issue a sizable dividend to investors? Well, if you’re Apple, you just keep on keepin’ on, shattering even the wildest expectations with “a record March quarter.” Leading up to today’s earnings, the outfit’s stock was down around two percent, mostly on reports that iPhone activations were something other than mind-blowing. That said, shares have already started to creep back into positive territory in after-hours trading. Wall Street was hoping for around $36.88 billion in revenue (despite lower guidance from Apple itself), with upwards of 30 million iPhones sold and 12 million iPads sold — galling numbers, no matter how you slice it.
The actuals? Well, we’re seeing $12.30 earnings per share, compared to an estimated $10.04 earnings per share. It all adds up to $39.2 billion in revenue and $11.6 billion in pure, unadulterated profit with 35.1 million iPhone units sold alongside 11.8 million iPads. (Of note, the new iPad was only on sale for around a fortnight in this quarter, making that figure even more impressive.) The former represents an 88 percent unit growth over the year-ago quarter, while the latter shows a 151 percent unit increase over the year-ago quarter. Though Mac sales weren’t equally astonishing, the four million units sold in the past three months indicates a seven percent uptick compared to Q2 2011. The iPod department, which has been sinking in recent years as iPads and iPhones become the primary music players of consumers, still saw 7.7 million units sold, representing a 15 percent decline from the same quarter last year.
Just to put things in perspective, Apple nearly doubled its profits in Q2 2012 compared to Q2 2011, and practically quadrupled it compared to Q2 2010.
Just to put things in perspective, Apple nearly doubled its profits in Q2 2012 compared to Q2 2011, and practically quadrupled it compared to Q2 2010. As for CEO Tim Cook’s reaction? Aside from grinning from ear-to-ear looking at his growing stash of loot, he stated: “We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter. The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.” Keep on telling us that, Tim, and we’ll keep waiting. The conference call kicks off at 5PM ET, and we’ll be liveblogging it just after the break!