Apple Q1 2021 set a huge revenue record

Brittany A. Roston - Jan 27, 2021, 4:20pm CST
Apple Q1 2021 set a huge revenue record

It’s that time of the year already: Apple has announced the results of its first fiscal quarter in 2021, announcing all-time high revenue with a massive 21-percent year-over-year increase. Apple made $111.4 billion in revenue with 64-percent of it coming from international sales. The company also announced record revenue across iPhone, Wearables, and Services.

Apple has detailed its earnings during the fiscal quarter that ended on December 26, 2020. In addition to the all-time quarterly revenue record at $111.4 billion, the company also reports that its quarterly earnings per diluted share were up 35-percent at $1.68.

Company CFO Luca Maestri said the quarter saw double-digit growth across each of its product categories, leading to all-time record revenue in each of Apple’s geographic segments. As well, Maestri said Apple’s last quarter saw ‘an all-time high for our installed base of active devices.’

In a statement, Apple CEO Tim Cook said:

This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide. We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season. We are also focused on how we can help the communities we’re a part of build back strongly and equitably, through efforts like our Racial Equity and Justice Initiative as well as our multi-year commitment to invest $350 billion throughout the United States.

Though many businesses have struggled amid the pandemic, others have thrived. Many people transitioned to a work-at-home workflow, which resulted in a big increase in demand for things like laptops, tablets, and webcams. The quarter was also fueled by the iPhone 12 launch and holiday sales.


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