Apple Reports Record Q1 2011 Financial Results: $6 Billion Profit, 16 Million iPhones Sold

Today, Apple announced its financial results for its first fiscal quarter of 2011. As expected, Apple did tremendously well.

For the quarter, a summary of financials are detailed below:

General Financials

  • Apple posted revenue of $26.74 billion
  • Net quarterly profit of $6 billion ($3.38 billion in profit in Q1 2010)
  • Gross margin was 38.5% (40.9% margin in Q1 2010)
  • International sales accounted for 62% of the quarter’s revenue
  • Apple’s quarterly profit and revenue were both company records


  • Apple shipped 4.13 million Macintosh computers (a new company record)
  • 16.24 million iPhone units sold (86% increase from Q1 2010)
  • 19.45 million iPod units sold (7% decline from Q1 2010)
  • 7.33 million iPad units sold
  • Over 160 million iOS devices sold in total

Apple Retail

  • Record 851,000 Macs sold, up 24%
  • Almost 50% of customers were new to Mac
  • International stores grew more strongly than U.S. stores
  • Opened six new stores in the quarter, totalling 323 locations, with 87 outside U.S.
  • Average revenue of $12 million, up 69% over year ago
  • Record 75.5 million visitors during the quarter

“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” said Steve Jobs, Apple’s CEO. “We are firing on all cylinders and we’ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can’t wait to get their hands on.”