Apple breaks records by earning over $ 100 billion in first quarter 2021 results.
The company has released results corresponding to the first quarter of its fiscal year 2021 (Q1 2021), which covers the last three months of 2020. The overall tone of Apple’s results is usually record-breaking and the start of 2021 has been particularly good for the tech company.
The launch of the iPhone 12 helped Apple cross $ 100 billion for the first time, up 21 percent from the same period last year. With the iPhone division at the forefront, services are Apple’s second key revenue engine, followed by Mac and iPad.
Apple earned a total of $ 111.004 million in the first quarter of 2021, a record figure that puts it above $ 100 billion for the first time and represents a 21% increase over the previous period. Although the tech company no longer discloses the volume of iPhones sold, data indicates that more than half of its revenue comes from iPhones. Specifically, this is the breakdown by division.
Apple’s sales revenue in the first quarter of 2021
i phone : 65,597,000 dollars. 17% growth on an annual basis.
Services : $ 15,761 million. Growth of 24% year on year.
Apple Watch, home products and accessories : $ 12,971 million. Growth of 29% year on year.
Mac : $ 8,675 million. Growth of 21% year over year.
iPad : $ 8,435 million. Growth of 41% year over year.
The iPhone 12 was a big boost for Apple, although 2020 was also the year of the iPad Pro, the iPad Air, or the first Macs with an M1 processor. Apple managed to increase revenues by more than 20% in virtually all of its divisions, with special growth in the iPad, up 41% over the corresponding previous period.
In addition to the division-specific records, Apple says the pandemic has driven the use of records in FaceTime as well.
Apple also indicates that demand for Macs with the M1 chip has been “very strong”, that Germany and Japan have seen “the largest iPad distribution in their entire history” and that they have had their highest FaceTime call volume. mainly due to the mobility restrictions imposed by the pandemic.
“Our business results in the December quarter were driven by double-digit growth in each product category, generating record revenue in each of our geographic segments and an all-time high in our installed base of active devices.” Luca Maestri, Apple’s chief financial officer.
Following the results, Apple’s Board of Directors declared an effective dividend of $ 0.205 per share, payable on February 11, 2021 to shareholders registered at the close of business on February 8, 2021. Apple’s stock, with a capitalization of 2 , 4 trillion dollars, reacted with a slight drop when the results were published.