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Apple profits surge ahead

Mat Bettinson
Apple profits surge ahead

Apple announced record revenue and profits with the iPhone maker earning $13 billion in profit on $46 billion worth of sales.

The company sold 37 million iPhones in the final quarter of 2011, up 128 per cent year-on-year. iPads also flew out the door, up 111 per cent in the same period while iPods feel 21 per cent.

"We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs," said Apple boss Tim Cook. "Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline."

Apple reported that the firm's gross margin was an enviable 44.7 per cent, again up from the previous year where it was 38.5 per cent. Sales outside of the US accounted for 58 per cent of the firm's revenue.

Apple is now also sitting on a veritable mountain of cash which some analysts believe sets the company up for major acquisitions later in the year, possibly moving to shore up more firms in the component supply chain.

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Tags: Apple, financial results

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