Apple produced a stellar Q3, reporting iPhone unit sales up 61 percent and Mac units sales up 33 percent–a new Mac record.
Net income soared 78 percent over the year ago quarter to $3.25 billion and revenue soared right along with it by 61 percent to $15.7 billion.
The company called demand for the iPhone 4 “absolutely stunning,” claiming Antennagate (or the well noted reception problems) have not tempered the demand for the phone that continues to outstrip supply. (iPhone 4 was released during the last 2 days of the period that ended June 26).
The iPad is also backorderd and Apple would not give analysts a catch up date on either product. Its hockey stick growth right out of the gate led Apple to state Tuesday, the product is not following the usual growth curve. “Our guts tell us that this market is very big. We believe that iPad is really defining the market. We want to take full advantage of it. We’re investing enormous amounts of time and resources in getting the iPad to as many people as we can,” an Apple executive said on a conference call with analysts.
He said of the iPad, “Anecdotally, it seems to beyond an early adopter [phase] and it’s the fastest I’ve seen for any products. It’s extremely unique and special.” Sales of the iPad reached 3.27 million units during the quarter, with revenue from the tablet and accessories hitting $2.17 billion (with $.07 billion in accessories).
Apple sold 8.4 million iPhones, 9.41 million iPods (down 8 percent from the year ago quarter) and 3.47 million Macs during the quarter.
Apple retail stores saw record revenue of $2.58 billion, up 73 percent.
The company expects revenue of about $18 billion for Q4 compared to about $12 billion for Q4 last year. This rosy outlook exceeded Wall Street’s forecasts for about $17 billion, said Reuters.
Source: Apple with reference to Reuters
