Millennium Post

Apple Q2 net income surges 94 pc to $11.62-bn

Technology giant Apple Inc has reported a whopping 94 per cent jump in net income to USD 11.62 billion in the January-March quarter of 2012 boosted by robust sales of iPhone and iPad.

In the year-ago period, it had a net income of USD 5.98 billion in the year-ago period, Apple said in a statement.

The company's net sales rose 39.18 billion in the second quarter ended March 31, 2012 from USD 24.66 billion in the same year-earlier. International sales accounted for 64 per cent of the quarter's revenue.

The tech firm's strong quarterly performance were driven by the rising demand of its smartphone and tablet computer.

During the quarter, Apple sold 35.1 million iPhones, representing 88 per cent unit growth over the year-ago quarter. It sold 11.8 million iPads in three months ended March 2012, a 151 per cent unit increase over the year-ago quarter.

In addition, Apple's sales Mac computers grew by 7 per cent to 4 million, while sales of iPods declined 15 per cent to 7.7 million.

"We are thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter. The new iPad is off to a great start, and across the year you are going to see a lot more of the kind of innovation that only Apple can deliver," Apple CEO Tim Cook said.

"Our record March quarter results drove USD 14 billion in cash flow from operations," Apple CFO Peter Oppenheimer said.

Looking ahead to the third fiscal quarter, the company expect revenue of about USD 34 billion and earnings per share of about USD 8.68.
Next Story
Share it