iPad 2 News: Apple Announces Sales of 4.69 Million iPads for Q2 2011

Posted Apr 20, 2011 at 1:41PM EST by QJ Staff

Listed in: iPad 2 News Tags: apple, ios, news

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The financial results announced by Apple today for the second fiscal quarter of 2011 surpassed expectations, as the company posted revenue of 24.67 billion and a net quarterly profit of $5.99 billion. This is a huge jump from the revenue of $13.50 billion and net quarterly profit of $3.07 billion from the same quarter one year ago. The one product that performed less spectacularly than predicted was the iPad, which sold 4.69 million units. Apple execs made these comments on the release of the iPad 2: “Thrilled with momentum.” “Still trying to get it into hands of customers.” “We sold every iPad 2 we made this quarter.” “Would have liked to end with more in channel inventory.” So why the relatively low sales number for such a popular product? Most likely, because buyers held off purchasing the “old” iPad in January and February in anticipation of the iPad 2, then it came out but they weren’t able to get one. Also, since Apple counts only units that have actually shipped, the iPad 2 models ordered but not yet shipped did not figure into the total.

Capital Advisors Growth Fund portfolio manager Channing Smith explained, “Dynamite numbers across the board. The only hiccup is lower than expected iPad numbers. We can attribute some of the weakness to stocking issues at some of the retail outlets and obviously the supply chain issue in Japan. Unfortunately, the supply chain issue will likely persist for the coming months but once we get past summer and the supply chain issues are resolved it’s all systems go again for Apple.” Hopefully, those supply chain issues can be solved soon and make more iPad 2s available for those who have been eagerly waiting for them.

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