Wednesday, January 25, 2012
Apple's $46 billion sales set new tech record
Apple sold a stunning 37 million iPhones last quarter, twice what it sold in the same period a year ago. iPad sales doubled to a record 15.4 million. Apple moved 5.2 million Macs, the first time Apple sold more than 5 million of its PCs in a quarter. The company also sold 15.4 million iPods during the holiday quarter, which ended Dec. 31.
Apple's stellar quarter generated sales of $46.3 billion, a tech industry record. That's up 73% from a year ago, and it easily topped Wall Street analysts' $38.9 billion median forecast, according to a Thomson Reuters poll.
Apple had $127.8 billion in sales during the 2011 calendar year, putting it neck-and-neck with Hewlett-Packard), the nation's largest tech company. This year, Apple is on pace to become the biggest technology company in the world, measured by revenue, outpacing current global No. 1 Samsung.
The Cupertino, Calif.-based company said its fiscal first quarter profit rose to $13 billion, or $13.87 per share, more than double the profit Apple booked a year earlier.
It was one of the most profitable quarters ever for any U.S. company, trailing only ExxonMobil's record-setting $14.8 billion quarter from the fall of 2008, when oil prices were at an all-time high.
Apple is sitting on most of those profits. It now has $97.6 billion in cash.
More at CNN money.
In related news: Apple is now worth more than Greece.