Apple has announced its fiscal results for the 3rd quarter today.
The company posted revenue for the quarter of $15.7 billion and profit of $3.25 billion. This is their highest quarterly revenue ever.
Apple announced tonight that this performance was “…driven by strong sales of the very popular iPad”.
Overall the company sold 3.27 million Apple iPads across 10 countries in its third fiscal quarter. These iPad sales generated $2.1 billion for the company.
Sales of the iPad combined with sales of the related products and services that go along with it accounted for 19% of the company’s total net sales for this quarter.
Although all the recent Apple hype has been around the iPhone 4 and its now infamous antennae issues, the phone was launched only a few days before this financial quarter ended, so the results are more of a reflection of how well the Apple iPad has sold and how its other products are performing.
iPad sales will continue to grow as demand remains strong and because Apple are to launch the iPad in 9 new countries from this Friday the 23rd July.
Apple announced that the iPad is being adopted by many businesses as well as consumers, with 50% of the Fortune 100 adopting the iPad in just its first 90 days of sales, with a further 30% planning to adopt or test the iPad.
Tim Cook, Apple’s Chief Operating Officer also revealed what all customers know which is that “Both the iPad and particuarly the iPhone 4 are being sold as fast as we can make them…and we are…increasing capacity as quickly as they can.” For the iPad, Apple planned on customers buying 1 million iPads a month and have been surprised that demand has outstripped these estimates.
The company expects that its profit margins will be squeezed slightly going forward as there are more costs involved in making and distributing the iPhone 4 and Apple iPad are higher than its previous and existing products.
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