Apple accounts blowout quarter, booking much more than $100 billion in revenue for the very first time

Apple delivered its largest quarter by revenue of all the time on Wednesday at $111.4 billion in its first-quarter earnings report for fiscal 2021. It’s the first time Apple crossed the symbolic hundred dolars billion mark in an individual quarter, and sales were up twenty one % year over year.

Apple stock dropped 2 % in extended trading.

Apple’s results for the quarter ending doing December weren’t just driven by 5G iPhone product sales. Revenue for each product category rose by double-digit percentage points. Apple’s earnings per share and revenue handily beat Wall Street expectations.

Here’s exactly how Apple did versus popular opinion 123.xyz estimates:

EPS: $1.68 vs. $1.41 approximated
Revenue: $111.44 billion vs. $103.28 billion estimated, up twenty one % year over year
iPhone revenue: $65.60 billion vs. $59.80 billion approximated, up seventeen % year over year
Services revenue: $15.76 billion vs. $14.80 billion approximated, up twenty four % year over year
Some other Products revenue: $12.97 billion vs. $11.96 billion approximated, up twenty nine % year over year
Mac revenue: $8.68 billion vs. $8.69 billion calculated, up twenty one % year over year
iPad revenue: $8.44 billion vs. $7.46 billion estimated, up 41 % year over year
Gross margin: 39.8 % vs. 38.0 % approximated
Apple CEO Tim Cook said the benefits might have been a lot better if not for the Covid 19 pandemic and also lockdowns that forced Apple to temporarily shutter some Apple stores throughout the world.

“Taking the shops out of the situation, especially for wearables and also iPhones, there’s a drag on sales,” Cook told CNBC’s Josh Lipton.

Cook believed that Apple’s complete install base for iPhones is actually over one billion, up from the earlier data point of 900 huge number of. The total active install base for all Apple products is 1.65 billion.

Apple didn’t provide genuine assistance for the upcoming quarter. It hasn’t offered investors forecasts since the beginning of the pandemic.

But even the lack of guidance couldn’t diminish what was really a blowout quarter on your iPhone maker. Apple has benefited during the pandemic from improved PC as well as gadget sales as men and women that are actually working or even going to school from home due to lockdowns look to upgrade the tools they use.

Apple released new iPhone models in October. The four iPhone twelve models are actually the first to include 5G, what investors believed might obtain a “supercycle” of owners clamoring to upgrade. iPhone earnings was up 17 % from the identical time last year.

“They’re packed with options that clients really like, and they came in from precisely the best time, with the place 5G networks were,” Cook said.

Apple’s other products category, along with Apple Watch and headphones like AirPods and also Beats, was up 29 % from previous year to $12.97 billion, actually as men and women are paying less time commuting and traveling. Apple released a high end set of headset, AirPods Pro Max, in December, with a sheer $549 suggested price tag.

macs and Ipads, the Apple devices most probable to be used for remote work as well as school, were additionally up this kind of quarter. Apple released brand new Mac computers powered by its individual chips rather than Intel processors within December to good reviews that said they had been better in terminology of power as well as battery life to the old models.

Apple’s services business, that the business has highlighted as a growth engine, was up 24 % year over year to $15.76 billion. The item category is actually a catch all: It contains the bucks Apple creates as a result of the App Store, subscriptions to digital web site content such as Apple Music or Apple TV+, licensing fees paid by Google to be the iPhone’s default online search engine and AppleCare warranties.

Apple highlighted in the release of its that international sales accounted for sixty four % of the company’s sales, up from 61 % in the same quarter previous year.

How new iPhone models fare within China, the company’s third-largest market, is a constant topic of debate among investors. Revenue in what Apple calls greater China, along with Taiwan in addition to the Hong Kong, were up nearly fifty seven % to $21.3 billion.

“China was powerful across the board,” Cook believed.

Apple even declared a money dividend of $0.205 cents per share and said that it had spent more than $30 billion on total shareholder return, along with share buybacks, throughout the quarter. Apple’s very first fiscal quarter is typically its largest of the year and includes critical holiday sales during December.

Wednesday’s blowout earnings are furthermore a retrieval story for Apple. Two years ago, Apple warned that the projection of its for its holiday quarter sales have been lower than the business expected, an unusual warning which raised questions about whether Apple was losing the momentum of its. On Wednesday, Apple showed that revenue is up over thirty two % since that article.