Q2 2011 IT Market Earnings Roundup

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The top IT companies are continuing to shatter records and make it look easy, even as the overall economic recovery limps along.

Microsoft (NASDAQ: MSFT), whose fiscal year ended June 30, broke two records, with $69.94 billion of revenue for the year and $17.37 billion of revenue in the fourth-quarter. But as we noted when the results came out, Microsoft still can't seem to quiet its naysayers, who are quick to point out that the company's earnings, record-breaking or not, pale in comparison to those of Apple (NASDAQ: AAPL).

This past quarter, Apple posted record revenue of $28.57 billion and record quarterly net profit of $7.31 billion. International sales accounted for 62 percent of the quarter's revenue. The 9.25 million iPads sold represented a 183 percent unit increase over the year-ago quarter. While iPod sales declined over the same period, it appears to have been pushed out by Apple's own iPhone, which largely does away with the need for an iPod and which enjoyed 142 percent unit growth over the year-ago quarter.

Google (NASDAQ: GOOG) reported revenues of $9.03 billion for the quarter, an increase of 32 percent compared to the second quarter of 2010. GAAP net income in the second quarter of 2011 was $2.51 billion, compared to $1.84 billion in the second quarter of 2010.

Sprint Nextel (NYSE: S) and Motorola Mobility (NYSE: MMI) both posted net losses for the quarter.