Updated from 4:44 p.m. EST to provide comments from the conference call in the second paragraph.
The company said it sold 35.1 million iPhones, 11.8 million iPads, 4 million Macs and 7.7 million iPods in its fiscal second quarter. Investors and analysts had been concerned that sales would slow, given possible supply constraints and an aging iPhone.
Apple announced quarterly earnings of $12.30 per share on $39.2 billion in revenue for the second quarter. Analysts polled by Thomson Reuters expected earnings of $10.02 a share on revenue of $36.69 billion. Some $22.7 billion of revenue was from the iPhone, which is now available in more than 100 countries and on 230 carriers.Speaking during a conference call after market close, Apple CEO Tim Cook said that Apple outgrew the PC market for the 24th straight quarter, with Macs growing 7%, versus 2% growth in PCs. The technology giant noted on the call that iPhone sales grew 88% year-over-year, and sales have more than doubled in Asia. iPhone sales in Greater China rose five times year-over-year, Cook said. "We are happy with the iPhone pricing moves we made a few months ago on iPhone 3G, iPhone 4," he noted. "We're thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter," Cook said in a press release. "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 generated $14 billion in cash during the quarter. Third-quarter guidance is expected to come in at $34 billion in revenue and earnings per share of $8.68. Cash on hand continued to soar, surpassing $110 billion as of the end of March. Some $74 billion of that cash is offshore, according to Apple CFO Peter Oppenheimer. Apple shares closed the day lower, off 2% to finish at $560.28. Shares of the tech giant, however, are soaring in after-hours trading, up 7.11% to $600.14, according to Nasdaq.com Interested in more on Apple? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. --Written by Chris Ciaccia in New York >To follow the writer on Twitter, go to http://twitter.com/commodity_bull. >To submit a news tip, send an email to: firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV