Apple saw profits nearly double from last year on strong revenue, although both were off from highs during the fourth-quarter holiday season. Apple also reported record March sales of iPhones, iPads, and Macintosh computers.
Apple reported net income of $11.6 billion, an increase of 93.3 percent over the prior year. The company's revenue increased by 59 percent to $39.2 billion.
The quarter was Apple's first opportunity to begin selling its new iPad, which launched on March 16. Apple said customers responded strongly, snapping up a total of 11.8 million iPads during the quarter, including the new model, which represented a 151 percent year-over-year increase.
"We're thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter," said Tim Cook, Apple's chief executive, in a statement. "The new iPad is off to a great start, and across the year you're going to see a lot more of the kind of innovation that only Apple can deliver."
Apple sold 35.1 million iPhones in the quarter, representing 88 percent unit growth over the year-ago quarter. AT&T said that it activated 4.3 million iPhones during the quarter, less than Verizon.
Apple sold sold 4 million Macs during the quarter, a 7 percent unit increase over the year-ago quarter. Apple also sold 7.7 million iPods, a 15 percent unit decline from the year-ago quarter.
By comparison, Apple said it sold 37.04 million iPhones a quarter ago, quarter, representing 128 percent unit growth year-over-year. Apple sold 15.43 million iPads, 5.2 million Macs, and 15.4 million iPods.
In January, Apple reported net income of $13.06 billion on revenue of $46.33 billion, versus profits of $6 billion and revenue of $26.74 billion a year ago. Both are record highs, the company said.
In October, Apple reported its first earnings miss since 2002, underperforming Wall Street estimates after the company claimed that rumors hurt iPhone sales. Apple's iPhone unit sales dropped by 3 million, although the company saw record highs in its iPad and Mac sales.
But the iPhone 4S, launched in October, put the wind back in Apple's sales. Apple's iOS has maintained a lead over Android as the top mobile operating system in North America since January, though both platforms have gained market share this year at the expense of Research in Motion's BlackBerry, according to Monday data from mobile ad network InMobi.
Apple will hold a conference call with analysts this afternoon. Wall Street analysts may ask the company about its ongoing lawsuits with Motorola and probably the ongoing effects on the hard drive industry, which suffered shortages after a disastrous flood in Thailand last year. Seagate, however, has said that production is almost back to normal, at least in notebook drives.
"Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68," Peter Oppenheimer, Apple's chief financial officer, said in a statement.
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