Apple Releases Q1 Earnings, Sells 37 million iPhones, 15 million iPads

Apple Inc, the company with the largest cash reserves in the world, topping $100 billion has done it again. The company released its Q1, 2012 earnings yesterday, beating analysts’ forecasts by a long shot as it recorded record-breaking revenues of $ 46.3 billion and record breaking net profit of $ 13.06 billion.

The feat was achieved due to record breaking sales of the company’s aesthetically pleasing and user friendly devices. Apple sold 37.04 million iPhones and 15.4 million iPads in Q1. The sales performance was undoubtedly helped by the Christmas holiday season. Apple’s Q1 ends in December.

According to a statement released on the company’s website, Apple’s CEO Tim Cook said, ““We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs, Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”

“We are very happy to have generated over $17.5 billion in cash flow from operations during the December quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2012, which will span 13 weeks, we expect revenue of about $32.5 billion and we expect diluted earnings per share of about $8.50.”