Apple's Quarterly Report

Apple is still red hot.

The company has announced its earnings for the fiscal quarter ending on March 31. (Apple records this as its second quarter of the year, while many companies refer to it as the first.)

According to a press release, Apple saw $39.2 billion in revenue and a net profit of $11.6 billion, or $12.30 per diluted share. One year ago, the company posted $24.7 billion in revenue and a net profit of $6.0 billion.

Customers bought 35.1 million iPhones this quarter (an 88 percent increase from the same quarter last year) and 11.8 million iPads (a 151 percent increase). Four million Mac units were sold and 7.7 million iPods.

The company now has over $110 billion in cash and reserves, reports TechCrunch.

“Our record March quarter results drove $14 billion in cash flow from operations,” said Peter Oppenheimer, Apple’s CFO, per the release. “Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”

Analysts had predicted that Apple would sell 30 million iPhones, 12 million iPads and between 4.1 million and 4.4 million Macs during the quarter.

Last quarter's results, which included earnings and sales from the holiday shopping season, were slightly stronger, with Apple reporting $46.33 billion in revenue and a net profit of $13.06 billion ($13.87 per diluted share). Customers snapped up a total of 37.04 million iPhones, 15.43 million iPads, 5.2 million Macs and 15.4 million iPods in the previous quarter.

I bought my iPhone 4S in June 2011, and my iPad (3) in March 2012.

I'm good for another 2 years.

I benefitted from the cash-rich position of the company when in February of this year I bought my iPad 2, and then days later the rumors started swirling about the iPad (3).

When the iPad (3) was actually in store, they took in my month-old iPad 2 as a 100% trade for the iPad (3)... which I upgraded to the next higher memory model.

I don't think that scenario would have played out if there wasn't such a demand for all their products, including a continued market for the iPad 2 alongside the iPad (3).

Here in Berlin, there is no Apple Store, but the major electronics stores all have Apple tables, and iPad 2 on shelf.