Apple Inc. has reported that it has seen the mind-blowing sales of iPhone, iPad and Mac in the fourth quarter of 2011, the first in its fiscal year. It is the first reporting quarter after the death of Steve Jobs, former CEO of Apple. Moreover, this quarter has been reported as the best quarter in the history of Apple Inc. and has exceeded the Wall Street expectations.
Apple has contributed the doubling of its profits in the fourth quarter to the sales of iPhone 4S. Apple has reported on Tuesday that it had sold more than 37 million iPhones in the last three months of the previous year. This sale is 128% more than the company sold in the fourth quarter of previous year. Sales of iPhone accounted for almost 53% of Apple’s revenue. The company has sold 15.43 million iPads and 5.2 million Macs during that quarter.
“We made a very bold bet in the quarter about what demand would be, and we were [still] short of supply throughout the quarter,” said Tim Cook, who took over as chief executive last August after the stepping down of Steve Jobs from the position. “The situation has improved some from the end of the quarter until now, but we are still short in some key geographic areas.”
Apple earned a profit of $13.06 billion for the last quarter of the year 2011. The company earned $46.33 billion i.e. 74% increase in revenue as compared to the year 2010.
“It was a home run,” Ezra Gottheil of Technology Business Research said in an interview at the conclusion of Apple’s earnings call with Wall Street analysts.
“Apple crushed even the most optimistic expectations,” added Brian White of Ticonderoga Securities in an email.