Apple, the world’s biggest technology company, is now getting bigger. They have reported full year results, showing net profit for the year to 25 September at $25.9bn (£16.5bn), up 85% from the previous year. Apple's total revenue for the year was $108 Billion, a 66% increase compared to 2010.
However, such a monumental rise in profit was not enough to satisfy Wall Street, with share prices falling by nearly 5% in after-hours trading. This may have been as a result of the disappointment in no new products being developed in the 4th quarter of the year, it was also the first set of results since the death of technology visionary Steve Jobs.
In the fourth quarter of the year, Apple sold 17.1 million iPhone's, which was a 21% increase on the same period last year, and 11.1 million iPads, which was a 166% increase, demonstrating how popular the iPad is and how it is well and truly dominating the tablet market.
Apple said sales may have been dampened by customers waiting for the release of the iPhone 4s, however now that it is here sales has sky rocketed. Apple received 1million pre-orders for the smartphone in the first 24 hours after it was announced and by day three they had sold over 3million.
Apple sold 4.9 million Mac computers in the quarter - up 27% over the same period last year. Apple seem to continue to break financial records as their impressive growth continues with each new product release.
As if that wasn't enough Apple has already forecast-ed revenue of around $37 billion for the first quarter of next year which has been boosted by the sales of the new iPhone 4s. Only time will tell whether Apple can continue this impressive growth especially in a post Steve Jobs era.
This is a guest post from Jon Smith | EMEA E-Marketing Specialist | Insight UK
