Apple Revenue Up 74 Percent, Sells 3.27 Million iPads, Most Macs Ever
Apple (AAPL) might as well change its name to the U.S. Mint. In the quarter ending in June, Apple posted record revenue of $15.7 billion, 20.7 percent of which was pure profit. Selling a record number of Mac systems, 8.4 million iPhones, and 3.27 million iPads, and pulling in another $4 billion in cash, the company continues to redefine success in the consumer electronics segment and, through its results, taunt its competitors.
CEO Steve Jobs called it a "phenomenal quarter," and it was one of the few times you'd be hard pressed to call his wording hyperbole. That Apple could sell 3.47 million Macs in the same quarter that it introduced the iPad is impressive, and it underscores that tablets don't have to cannibalize desktop or laptop sales, a ray of sunshine for the PC industry as it means that this is a new category device that can mean incremental sales to consumers.
Sales of iPhones were strong, through still down from the previous quarter's 8.8 million units. You can lay the blame squarely on the shoulders of the leak of the iPhone 4 prototype, which likely caused some sizeable number of people to wait until they had seen the new model. I actually thought that the total would be closer to 8 million, and at the time I called that generous. However, Apple did release the iPhone 4 before the end of June, as I had mentioned was likely, and as a result got a 1.7 million unit bump. Without that lift, the number of phones might have been closer to 7 million, or even under, so I was optimistic, indeed. It's an example of how Apple will make strategic decisions and take action to keep its quarterly numbers looking good.
One dull spot was iPod sales, down 8 percent year-over-year. However, given that the iPhone has become a more powerful replacement, it's still remarkable that Apple could move 9.41 million iPods during the quarter. It will be interesting to calculate some average net sales for each of the product categories, but that will have to come tomorrow, after more data is out.
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