Apple Q4 2011 Earnings Up, But iPhone Sales Lower Than Expected

Apple today announced financial results for its fiscal 2011 fourth quarter ended September 24, 2011. The Company posted quarterly revenue of $28.27 billion and quarterly net profit of $6.62 billion, or $7.05 per diluted share. These results compare to revenue of $20.34 billion and net quarterly profit of $4.31 billion, or $4.64 per diluted share, in the year-ago quarter. Gross margin was 40.3 percent compared to 36.9 percent in the year-ago quarter. International sales accounted for 63 percent of the quarters revenue. Apple said that the company sold more than 17 million iPhones in its fiscal fourth quarter ended Sept. 24, up from more than 14 million a year ago but lower than the 20 million or more that analysts had been expecting. The stock ended the day up, but was trading down after hours as a result.