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Apple Q2 2011 Earnings Announced: Profits, Sales Impress

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APPLE Q2 REVENUES
Apple Q2 Results | AP

Apple just reported its second quarter revenue for 2011, and the Cupertino-based company brought in over $24.67 billion, thanks in no small part to strong iPhone and Mac sales that outpaced expectations.

According to Reuters, "Apple reported a net profit of $5.99 billion, or $6.40 a share, while revenue surged 83 percent to $24.67 billion." Profit was up 95 percent.

iPad sales were weaker than predicted, however: shipments of the tablet fell short of analyst expectations, with Apple shipping 4.69 million iPads to the 6.2 million anticipated. That's slightly down from last quarter's 7.33 million units.

The weaker-than-expected iPad sales may be tied to the supply shortages that are still frustrating consumers over a month after launch. Peter Kafka reports Apple chief financial officer Peter Oppenheimer said, "Customer enthusiasm has been tremendous for iPad 2, and we’re working as hard as we can to get into their hands as fast as possible... We sold every ipad 2 that we could make."

iPhone sales hit 18.65 million, boosted by the iPhone 4's launch on Verizon in February (and ahead of the expected 16 million).

The company's desktop and laptop business is going strong -- Apple sold 3.76 million Macs.

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