Apple reports huge increase in Q3 revenue and profit


Apple reports huge increase in Q3 revenue and profit

Billy MacInnes

Apple third quarter revenue increased by 82% and net profit rose by 125% as the company sold more than 20m iPhones, 9.25m iPads and 3.95m Macs in the three months ending 25 June 2011.

Revenue reached $28.57bn with net quarterly profit of $7.31bn. Gross margin was 41.7%, up from 39.1% in the same quarter of 2010. International sales accounted for 62% of the company's revenue and Asia/Pacific sales nearly quadrupled year on year. 

The iPhone and related products and services generated $13.3bn in sales, dwarfing the Mac business which had revenue of just over $5.1bn. Mac sales grew by 14%. 

iPad and related products and services overtook Mac revenue, bringing in just over $6bn, while the only product range to witness a decline was the iPod, with sales down 20% by units to just over $1.3bn. The iPod Touch accounted for half of all iPods sold.

CEO Steve Jobs said the company was "thrilled to deliver our best quarter ever", adding that Apple was "very focused and excited about bringing iOS 5 and iCloud to our users this fall".

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