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Tuesday, October 18, 2011

Apple reports quarterly results

Apple has announced financial results for the fourth quarter of its financial year, which ended on 24th September. Quarterly revenue was up year-on-year to $28.27 billion (£18 billion) and quarterly net profit was up to $6.62 billion.

Over 17 million iPhones were sold in the quarter, a 21% increase on the same quarter in 2010 (but down on Q3 2011), while iPad sales were up 166% to 11.12 million units.

Tim Cook, Apple’s CEO, said “We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion. Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline.”

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Author: The Fonecast
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