Apple Q1 profits through the roof, iPhone sales keep going up

Apple just can’t seem to stop improving their performance – they announced the financial results for the quarter that just ended and they’ve broken their records. Again. Year over year, iPhone sales more than doubled and profits were through the roof.

Here are the numbers: $24.67 billion dollars in revenue (a record for the quarter), $5.99 billion net profit (again, a record for the quarter), 41.4% gross margin and international sales accounted for 59% of the revenue.

During Q1 of this year (which is Q2 in Apple’s finance calendar), Apple shipped 18.65 million iPhones, a whopping 113% increase compared to the year-ago quarter. During the last three months of 2010, the number of shipped iPhones was 16.24 million.

Meanwhile, the iPad hasn’t been doing so hot – 4.7 million units were shipped compared to 7.3 million the previous quarter. The iPad launched in March 2010 so there are no year over year numbers and the iPad 2 launched in March 2011 so it couldn’t help much with the Apple’s tablet sales. iPod sales fell 17% year over year (from 10.9 million in Q1 2010 to 9 million in Q1 2011).

Overall, desktop sales are down (-12% year over year), while portables are experiencing an astronomic rise – Apple’s mobile gadget went up 53% year over year (in terms of units shipped).

For Q2 of 2011, Apple’s CFO is predicting $23 billion in revenue. Ambitious, but definitely possible considering Apple recent form.

Source 1 • Source 2 (PDF)