Revenue in the three months ended in March rose to $39.2 billion, with net income of $11.6 billion, or earnings per share of $12.30.
Analysts had been seeking $36.85 billion in revenue with $10.04 earnings per share. That was an profit increase of 94 percent year-over-year.
In addition, Apple said that during the quarter it sold 35.1 million iPhones in the quarter (88 percent unit increase year-over-year), 11.8 million iPads (151 percent unit increase year-over-year), 4 million Macs (7 percent unit increase year-over-year), and 7.7 million iPods (15 percent unit decline year-over-year). The iPod decline was expected, and continues the trend, as more users move to devices like the iPhone.
The bad news came from Peter Oppenheimer, Apple’s CFO, who said:
“Our record March quarter results drove $14 billion in cash flow from operations. Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”
It's that forecast that was the bad news. Analysts' consensus estimates for Apple's fiscal Q3 2012 were $37.4 billion and $9.95 per share.
Apple ended the quarter with $110.2 billion in cash, cash equivalents, and short- and long-term marketable securities. This burgeoning, nearly exploding chest of "savings" has meant that Apple will pay its first ever dividend later this year.