Apple has once again set the financial world on fire with record profits and product sales in Q3 2011. In a conference call from Apple headquarters in Cupertino, California, the company has announced a record-breaking $7.31 billion profit on revenue of $28.57 billion for this fiscal quarter. This equates to an almost unbelievable overall profit margin of 25.6%, with total profits more than doubling from Q3 of last year, not to mention a total revenue pull over $3.50 billion more than predicted by Wall Street. It's no surprise why shares of Apple are now over $400 in after-hours trading.
Just when people were starting to count Apple out following an onslaught of competition from Android-powered tablets and smartphones, these financial and sales results from Apple show the consumer electronic world that it is still on top. Apple sold 20.34 million iPhones and 9.25 million iPads for Q3 2011, increases of 142% and 183% from one year ago, respectively.
It's clear that Apple is making the overwhelming amount of its revenue and profits from consumer electronics devices, rather than computers. However, Apple's Mac computers still reign supreme for college students and professionals, so Apple should be poised to earn significant revenue with the release of OS X Lion, which is planned for this week. I will be getting a copy of that upgrade, so look for a review on pnosker.com soon!
Lastly, Apple's iCloud system will be rolled out in the next few months, which could drive even more people to use Apple products exclusively, even further helping the company's bottom line. With these incredible financial and sales results, Apple has displayed why it's arguably the number one consumer electronics company in the world.