Earlier today Apple reported earnings for its third fiscal quarter of 2011. The numbers were astonishing, with 82% year over year revenue growth and 125% year over year profit growth driven by record iPad and iPhone sales. The stock shot up more than 7% in after hours trading, peaking at $404 before going back down to $394. It was, in no uncertain terms, Apple’s best quarter ever.
Apple sold 9.25 million iPads this quarter, which is more than 20% more than it sold in all of fiscal 2010. Even though it was supply-constrained throughout the entire quarter, Apple sold 62.5% of the iPads it sold during 2010 in just 90 days.
By taking in $6.046 billion in revenue from the sale of 9.246 million iPads, the average selling price of an iPad was $653.90. One year ago it was $662.39 and in Apple’s previous quarter it was $604.18. iPad ASP declined 1.28% year over year but grew 8.23% quarter over quarter.
Apple sold 20.338 million iPhones this quarter and 39.95 million in all of fiscal 2010. In one quarter, Apple sold more than half of all of the phones it sold during its last fiscal year.
Of the 25.09 million iPhones Apple sold in 2009, 35.8% of them came during Apple’s first and second calendar quarters. In 2010 that number was 36.1%. Using calendar 2011 iPhone sales numbers and a 36% average, Apple is on track to sell a whopping 108.3 million iPhones this year. To put that in perspective, 108.3 million iPhones would be 20% more than it sold in all of 2007, 2008, 2009, and 2010 combined.
By taking in $13.311 billion in revenue from the sale of 20.338 million iPhones, the average selling price of an iPhone was $654.49 this quarter. By comparison, it was $635.15 one year ago and $659.52 last quarter. But $654.49 is nothing to scoff at: It’s more than double the average selling price of a Blackberry in RIM’s most recent quarter.
If RIM brought in $268.56 in revenue for each Blackberry it sold in its most recent quarter and we assume a conservative 50% profit margin on each iPhone Apple sold in its most recent quarter, then Apple made 21.9% more in profit for each iPhone it sold than RIM took in of revenue for each Blackberry it sold in each companies’ most recent quarter.
Apple had an incredible quarter no matter how you slice it.