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Apples Annual Profit Nears $26 Billion

You dont need a Wharton MBA or high-powered finance job on Wall Street to figure out that Apples fiscal numbers are off the charts.

In results for its fiscal 2011 fourth quarter ending Sept. 24, 2011, Apple revealed that its annual net sales rose year over year from $65.23 billion to a whopping $108.25 billion. Meanwhile, the consumer electronics giant reported a modest annual profit of $25.92 billion, up from $14.01 billion in the prior fiscal year.

To put Apples monstrous earnings into perspective, consider that only one other corporate giant had a more profitable year in 2010: Exxon Mobil ($30.5 billion), according to CNNMoney.

Demand for most of Apples consumer electronics devices simply continues to climb. For the quarter, sales of iPhones (17.07 million), iPads (11.12 million) and Macs (4.89 million) all increased over the year-ago quarter. Over the last four quarters alone, Apple has sold more than 72 million iPhones and more than 32 million iPads. The exception to Apples product growth is the iPod, as quarterly sales (6.62) million, fell 27 percent from the year-ago quarter.

Quarterly revenues and earnings also rose significantly. Cupertino, Calif.-based Apple posted a profit of $6.62 billion or $7.05 per diluted share, on revenues of $28.27 billion. Those results compare to a profit of $4.31 billion or $4.64 per diluted share, on revenues of $20.34 billion in the year-ago quarter.

In spite of increased earnings, Apple’s bottom line missed analysts’ expectations of a profit of $7.31 per share, representing the first time in at least six years that Apple fell short of analysts’ predictions, Bloomberg reported.

Gadgets like the iPhone and iPad have helped transform Apple into one of the most powerful companies in the world with a stock price of $422.24 hovering near a 52-week high of $426.70 reached yesterday and a market capitalization of $391.45 billion.

Apple is not just an American company  in fact, international sales represented 63 percent of Apple’s revenues in the recent quarter. And the tech giant hopes that its new gadget, the iPhone 4S, will do well overseas as well as at home. Apple plans to distribute the iPhone 4S to more than 70 countries by the end of the year.


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