Apple provided financial results for the second quarter of 2011 last night and things are looking good for the Mac and iPhone maker despite failing to meet sales expectations for the newly-released iPad 2.
Demand is still incredibly strong for the proddable PC but Apple simply can't make enough of the tablet devices to meet that demand, according to Apple.
"We sold every iPad 2 we could make," chief financial officer Peter Oppenheimer said. Apple is now expanding its iPad production in advance of the gadget going on sale in 13 new countries next week, with Steve Jobs understudy Tim 'Captain' Cook promising, "I'm very confident that we can produce a very large number of iPads for the quarter."
Earnings for the quarter ending March 26th 2011 saw Apple raking in $24.67 billion in revenue with a net profit of $5.99 billion. A massive jump from the same quarter a year ago which garnered just over $3 billion in profit from $13.5 billion revenue.
Sickly Steve was wheeled out to comment, "With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders. We will continue to innovate on all fronts throughout the remainder of the year."
During the quarter Apple flogged 3.76 million Macs (up 28 per cent), 18.65 million iPhones (up 113 per cent), 9 million iPods (down 17 per cent) and 4.69 million iPads.
Apple also said that enterprise demand for the iPad was gaining traction with 75 per cent of companies listed on the Fortune 500 either testing or deploying the touch-screen device.
The iTunes Store also had its best quarter ever with iBooks singled out for particular praise having sold more than 100 million titles and attracted a raft of new publishers.
Apple's retail operation is also strong with average revenue of close to $10 million per store and 40 new stores opening this financial year, 75 per cent of them outside of the USA.
Tim Cook said that Apple was deeply saddened by the tragedy in Japan and said that Apple was helping with the disaster relief. He also said that, although Apple's supply had not been affected by the earthquake and tsunami, revenues in Q3 2011 could be down by up to $200 million as a direct result.
As for Steve Jobs, he's still on medical leave, continues to come into the office on a regular basis, but wants to get back to full-time working 'as soon as he can'.