iPhone, wearable and services set new revenue records.

Last night, Apple announced financial results for its fiscal first quarter of 2021, which corresponds to the calendar’s fourth quarter of 2020. For the quarter, the company reported revenue of $ 111.4 billion and quarterly net income. of 28.8 billion.

As always, it’s important to note that Apple no longer reports iPhone, iPad, and Mac sales numbers, although it does report a breakdown of revenue by product category.

The company says iPhones, wearables, and services have set new revenue records. Total revenue increased 21% year-over-year, while quarterly diluted earnings per share increased by 35%.

Here are Tim Cook’s statements regarding Apple’s performance during the Q1 2021 holidays:

“This quarter for Apple would not have been possible without the tireless and innovative work of every member of the Apple team around the world. We are gratified by the enthusiastic response from customers to the unrivaled line of state-of-the-art products we delivered during a historic holiday season. We are also focused on how we can help the communities we are part of get a strong and fair start, through efforts such as our Racial Equity and Justice Initiative, as well as our multi-year commitment to invest $ 350 billion in the United States. “.

CFO Luca Maestri added:

“Our business performance for the December quarter was fueled by double-digit growth in each product category, leading to record revenue in each of our geographic segments and an all-time high for our active device installed base. These results helped us generate a record operating cash flow of $ 38.8 billion. We also returned over $ 30 billion to shareholders during the quarter as we maintain our goal of achieving a net and liquidity neutral position over time ”.

Q1 2021 AAPL earnings by product

The first quarter of the fiscal year is important to Apple as it covers the months of October, November and December, the three most profitable months of the year due to holiday shopping.

As mentioned, the company does not report unit sales for any of its hardware products. Instead, it reports a breakdown of revenue by product category. Here are the numbers for fiscal first quarter 2021:

  • $ 65.60 billion: iPhone
  • $ 15.76 billion: Services
  • $ 8.68 billion: Mac
  • $ 12.97 billion: Wearables, Home, and Accessories
  • $ 8.44 billion: iPad

Once again, Apple is not providing guidance for the second quarter of 2021 due to the uncertainty caused by the COVID-19 pandemic.

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