Apple's Second Quarter Financial Results

Today, Apple released financial results for the second quarter of fiscal year 2012. The results are a very successful follow-up to the record-setting first quarter of 2012.

The Numbers


Apple sold 35.1 million iPhones, representing an increase of 88% year-over-year. The iPhone accounted for $22.7 billion in revenue, increased by 85% year-over-year, and comprised 58% of the total quarterly revenue. They probably would have done better if it weren’t for the “disappointing” iPhone 4S.


Apple sold 11.8 million iPads in the quarter, a mind-boggling increase of 151% year-over-year. The iPad accounted for $6.6 billion in revenue, increased 132% year-over-year, and comprised 17% of the quarterly revenue. Not bad for a device that only tools buy.


The one slumping product line was iPod. Year-over-year sales dropped 15% to 7.7 million units, with iPod touch comprising around 3-4 million.1 People are simply buying devices with built-in iPod functionality instead of stand-alone devices.


Apple sold 4 millions Macs - 1.2 million desktops and 2.8 million laptops - representing a 7% year-over-year increase. This is the 24th consecutive quarter - or 6th straight year - that Apple has outpaced the PC market.

Apple TV

The Apple TV numbers were not mentioned.


Apple nearly doubled its profits year-over-year. The company’s gross margin is nearly 50%. Apple’s cash-on-hand is over $110 billion now - alone worth more than only 35 companies in the world. Their market cap is over $522 billion.

The iPad grew by over 151% year-over-year and iPhone sales nearly doubled. Apple has now sold a combined 365 million iOS devices and currently has over 125 million iCloud users. On top of that, iTunes revenue was up nearly 35%.

To state things clearly, Apple is on top of the world. They are making tons of money. The company is growing their user-base and creating an ever-improving integrated experience. How long will it last? Who knows? One thing is clear, Apple just shot the Law of Large Numbers to hell.