Apple's Profits Nearly Double Year on Year

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News Posted: Wed, Apr 25 2012 11:10 AM
Apple doesn't have a license to print money, but it might as well have. Everything the Cupertino company touches turns to cold, hard cash, and if you don't believe it, then explain how Apple managed to nearly double profits from last year. The numbers are borderline obscene, as in posting $39.2 billion in quarterly revenue and $11.6 billion in quarterly net profit, up from $24.7 billion and $6 billion, respectively, from one year ago.

The Cupertino outfit said it sold 35.1 million iPhones in the quarter, which is 88 percent more than it did last year. Apple also sold 11.8 million iPads, up a whopping 151 percent over the same quarter in 2011, 4 million Macs (7 percent year-on-year increase), and 7.7 million iPod devices, down 15 percent from a year ago.


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

Clearly Apple's business strategies are working, and investors who thought the company might fold after the death of Steve Jobs should reformulate their expectations. That said, Tim Cook hasn't been at the helm for very long and so it's still possible that Apple could see a decline in sales as time goes on, but with almost double the profits as last year, there's plenty of wiggle room.
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boiker replied on Thu, Apr 26 2012 12:54 PM

Tim Cook's policies haven't risen to the surface yet. We've got at least a couple more quarters before we know how he has affected Apple's direction. Apple is great at what they do.

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rapid1 replied on Thu, Apr 26 2012 1:09 PM

I don't know though really as there still running on Steve Job's direction/plans for the company. From what I had heard he had a detailed 3-5 year plan laid out for the company when he passed. So really he is still running the company at least direction wise for now in absenteeism.

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AKnudson replied on Thu, Apr 26 2012 3:32 PM

We shouldnt assume that steve jobs was the only force or factor that made appple as innovative as it is. He worked closely with every one of the officials now in charge of apple. The future of apple is going to take a different direction, it has too to remain innovative and alive. Theu future isnt decided on stevejobs, as he aged so did his ability to think outside the box, in many ways his ideas were so widely accepted he became the box. The future of technology is the same, it wilk be determined by those who can think orignally and with passion for their product.

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AKnudson replied on Thu, Apr 26 2012 3:39 PM

Watch for some ionteresting new innovations coming in both the ipod touch and the iphone. Apple is looking for another way to get people involved with the ipod scene whether or not they like the iphone.

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ZTimpson replied on Thu, Apr 26 2012 4:00 PM

Mr. AKnudson, what are some ways Apple are looking to get more people involved?

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ZTimpson replied on Thu, Apr 26 2012 4:08 PM

Who is taking the direction of Apple a different direction. What are some ways that they are keeping it alive and innovative?

 

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