Apple reported another very successful financial quarter this afternoon, exceeding expectations. In the quarter ending March 31, the company brought in a net profit of $11.6 billion on a grand total of $39.2 billion in revenue. As has been the case in recent quarters, the vast majority of Apple’s revenue came from sales of iPads and iPhones. Together, the two devices made up nearly 75% of Apple’s revenue last quarter, a percentage that continues to grow over time.
Apple could buy its own carrier just with its earnings this quarter if the $39 billion AT&T bid for T-Mobile is any indication. The quarter wasn’t quite as impressive as the company’s massive Q1 results, but it did represent a 59% increase in revenue over the same quarter last year. Of course, the company’s first quarter included the holiday gift-giving season and the launch of a new iPhone so that’s going to be a tough one to beat.
Not as Good as Q1, But iPhones and iPads are Still on Fire
The iPhone continues to be Apple’s biggest source of growth, with over 35 million units sold in the last quarter. Again, that didn’t beat out the quarter in which the iPhone 4S launched, but it actually came pretty close. Year over year, iPhone sales were up 88%.
Apple actually sold fewer iPads this quarter than in the previous one, despite the fact that they released a new iPad in March and simultaneously dropped the price of the iPad 2. That said, these developments were only in effect for about two weeks before the quarter ended, so it’s hard to give them too much weight.
Chief Operating Officer Peter Oppenheimer cited increased usage of iPads among enterprise customers, educational institutions and the U.S. government. The Air Force, for instance, has deployed thousands of iPads, while many private defense contractors are using them for things like project management and other in-the-field tasks.
Education is another growing area of opportunity for Apple to expand its tablet market share. The company touted the fact that the San Diego School District just bought 10,000 iPads and plans to deploy more among its students. There are plenty of other examples of how iPads are being used in schools.
In terms of units shipped, the next best-performing areas for Apple were iPods, laptops and desktop Macs, in that order. There was no mention in today’s call of the Apple TV, which remains a minor product, even in anticipation of the company’s rumored entrance into the HDTV market later this year.
