Apple Sold a Record 37 Million iPhones Last Quarter

During the last three months of 2011, Apple sold just over 37 million iPhones, a record number and more than double the number sold in the same quarter a year ago. The company also sold a record number of iPads in the period.

Sales of smartphones enjoyed a 128% unit growth year-over-year. Sales grew so much because this was the first time Apple ever released a new smartphone in the same quarter as the big holiday shopping season. Previous models debuted in the summer, spreading demand out much more.

Apple also sold 15.4 million iPads, a 111% unit increase over the year-ago quarter. Not all the news was good -- the company sold 15.4 million iPods, a 21% unit decline, continuing a trend that has been going on for years.

As a result of increasing sales of smartphones, tablets and Macs, Apple's revenue pulled in $46.33 billion in revenue. Analysts had been predicting revenue around $40 billion. This lead to a record quarterly net profit of $13 billion, or $13.87 per diluted share. This is the second highest amount any company has ever made in a single quarter. 

"We're thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs," said Tim Cook, Apple's CEO since the death of Steve Jobs this fall. "Apple's momentum is incredibly strong, and we have some amazing new products in the pipeline."

All this profit doesn't mean mean Apple doesn't face challenges. The total number of smartphones running Google's rival Android OS is significantly higher than iPhone sales, for example.

The fourth quarter of the year is traditionally the biggest for many companies. Looking ahead to the winter quarter, Apple is predicting revenue to be significantly less: about $32.5 billion with diluted earnings per share of about $8.50.