iPhone sales grow 113%

Apple has announced its financial results for its fiscal 2011 second quarter, which ended March 26th, 2011.

The firm said the record quarter saw 83% revenue growth, 95% profit growth and record iPhone sales growth of 113%.

Apple posted record second quarter revenue of US$24.67 billion and record second quarter net profit of $5.99 billion, or $6.40 per diluted share.

These results compare very favourably to revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share, in the year-ago quarter.

Gross margin was 41.4 percent compared to 41.7 percent in the year-ago quarter and international sales accounted for 59% of the quarter’s revenue.

Apple sold 3.76 million Macs during the quarter, a 28% unit increase over the year-ago quarter.

18.65 million iPhones were shifted in the quarter along with 9.02 million iPods, which represents a 17% decline from the year-ago quarter. Who needs an iPod when you've got an iPhone?

The company also sold 4.69 million iPads during the quarter.

"With quarterly revenue growth of 83% and profit growth of 95%, we’re firing on all cylinders,” said Steve Jobs, Apple’s CEO. "We will continue to innovate on all fronts throughout the remainder of the year.”

Hopefully that’s a hint new products will be announced later this year.

Reuters is reporting that iPhone 5 will have a faster processor and begin shipping in September.