Yesterday, Apple released the results for its 2011 fiscal third quarter (which ran from March 27, 2011 to June 25, 2011) and held a call with analysts to discuss the results. It was a record-setting quarter for Apple, with sales of $28.57 billion and net profit of $7.31 billion. If you want to hear the full call yourself, you can download it from iTunes or you can read the transcript provided by Seeking Alpha. Apple's official press release is here. Here are the highlights of the call that I think would be of interest to attorneys who use an iPhone or iPad:
- Apple sold 20.34 million iPhones this past quarter, more than ever before, even though Apple has yet to even introduce the 2011 model of the iPhone. $13.3 billion of Apple's profit came from the iPhone last quarter.
- Apple sold 9.25 million iPads, more than ever before. The iPad 2 went for sale in the fiscal second quarter, but it was hard to find. This past quarter was the first full quarter in which the iPad 2 was for sale and relatively easy to find. Apple sells as many iPads as it can make right now, and Apple now makes more money on iPads than on Macs, even though the first iPad was introduced last year and Apple has been making Macs since 1984.
- If you combine iPhone, iPad and iPod touch sales, Apple sold over 33 million iOS devices last quarter, and to date has sold 220 million iOS devices.
- There are more than 425,000 apps on the App Store right now. The App Store passed the 15 billion download mark last week.
- Apple CFO Peter Oppenheimer said that there is a "future product transition" coming this quarter. Presumably he is referring to the 2011 model of the iPhone, which I believe will be announced in September. Considering how many iPhones Apple sold last quarter, of a model that is essentially over a year old, I imagine that Apple is going to sell an insane number of iPhones this quarter when the new model comes out.
- iPads are increasingly popular in businesses. 86% of the Fortune 500 companies are using iPads, as are 47% of the top 500 companies in the world. As Apple COO Tim Cook said yesterday: "I think if you really looked at it fairly, to be this far into the enterprise, with a product that's only been shipping for 15 months in the case of the iPad, is absolutely incredible because the enterprise is typically much more conservative and takes a long time to evaluate products. And in this case, people are moving at a speed I haven't seen."
