Apple moves 37 million iPhones, 15 million iPads with record profits in Q1 2012

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Apple iPhone 4S

Apple just released its Q1 2012 earnings report, and its results were good enough to stun even the most hardened watcher of the company. This quarter Apple broke records for revenue, profits, and number of iPhones and iPads shipped.

Revenues were a stunning $46.33 billion, with profits totaling $13.06 billion - more than double last year's $6 billion in profits. This was the first quarter that Apple surpassed $30 billion in revenue.

Spurring on those record profits were record shipments of the iPhone, as Apple sold 37.04 million iPhones this quarter - a 128 percent increase over Q1 of last year. Along with the record number of iPhones sold, Apple moved 15.43 million iPads - 111 percent more than last year's first quarter.

Apple generated $17.5 billion in cash flow this quarter that it can pad its already overflowing coffers with. The company predicts revenues of $32.5 billion for Q2.

Curious about the iPhone 4S effect? Well, there you have it, Apple is once again, the world's largest smartphone manufacturer.