By now you’ve seen the numbers. Just in case, the keys:
Revenue: $39.2 billion
Profit: $11.6 billion
iPhones: 35.1 million
iPads: 11.8 million
Macs: 4 million
iPods: 7.7 million
The first stand-out number is the 35 million iPhones sold. Before last quarter’s insane 37 million sold, 20 million had been the previous record. Hard to fathom that Apple almost matched their record this quarter (which was a non-holiday quarter and a week shorter than last quarter).
But the real stand-out is the 47.4 percent gross margin Apple hit for the quarter. When they were at 44 percent last quarter, company executives went out of their way to note that they probably wouldn’t hit that type of margin again. Instead, they shot past it.
The reason is likely because the iPhone accounted for a larger portion of Apple’s revenues since the new iPad was only on sale for a couple of weeks last quarter (and older iPad sales dipped leading up to the new one). The iPad has a worse (but still very healthy) margin than the iPhone.
In other words, it would be hard to imagine the margin continuing to rise. 50 percent sounds impossible. But then again, 47 percent sounded impossible.