Apple Reports $111.4 Billion Quarterly Revenue for the First Time Ever

iPhone 12 and iPhone 12 Pro Max

Apple yesterday reported its fiscal Q1 2021 earnings. The report covers the months of October, November, and December from last year in what was a record-breaking period for Apple. The company surged past $100 billion in quarterly revenue for the first time ever, and CEO Tim Cook told Reuters there are now more than 1 billion active iPhone users.

Apple brought in a total of $111.4 billion in the last quarter with per share earnings of $1.68. The iPhone 12, iPhone 12 Mini, iPhone 12 Pro and 12 Pro Max also performed well despite the fact that Apple had to ship late and close down some of its retail stores due to the ongoing pandemic. iPhone sales brought in a record-breaking $65 billion in revenue for Apple beating the previous $61.58 billion record Apple had in its fiscal Q1 2018.

Apple recorded huge success in its Mac and iPad department with sales continuing to soar as people spend more time at home due to the COVID-19 pandemic. In the last quarter, iPad sales jumped up by 41 percent and Mac sales moved up 21 percent year over year. Wearables such as the AirPods, AirPods Pro and the Apple Watch had sales which jumped up by 30 percent year over year.

Apple services enjoyed a huge growth as well moving up by 24 percent during the last quarter. Apple’s latest paid service, Fitness Plus joins Apple Music, Apple TV Plus, Apple Arcade and Apple News Plus as Apple’s recurring paid subscription services.

As reported by Apple, below is a breakdown of its Q1 revenue across different categories of products:

  • iPhones: $65.6 billion
  • Services: $15.76 billion
  • Mac: $8.68 billion
  • Wearables, Home, and Accessories: $12.97 billion
  • iPad: $8.44 billion

The company will hope the success continues with the transition away from Intel chips to its own M1 processors in the Mac department and its newly updated line of products.

Posted by Biodun

Passionate about Technology and everything concerning it. Avid Gamer and Music Lover. Loves Chelsea FC. Overall, a nice guy. Find me on Instagram and Twitter.

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