Earnings for Q1 2021 have officially been reported by Apple making a great deal for the holiday shopping season. A record-breaking $111.44 billion in revenue along with a profit of $28.76 billion has been recorded by Apple for the first fiscal quarter of 2021.
It is also important to keep in mind that Apple has stopped reporting the unit sales numbers of iPhone, iPad, and Mac, even though it still continues to report a revenue breakdown by product category. As per Apple Wearables, iPhone, and services together with set new revenue records. A year ago the revenue was estimated up to 21%, whereas 35% to $1.68 were the quarterly earnings per diluted share.
Tim Cook, Apple CEO says the following regarding the Apple’s Q1 2021 holiday performance:
“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.”Tim Cook
“Our December quarter business performance was fueled by double-digit growth in each product category, which drove all-time revenue records in each of our geographic segments and an all-time high for our installed base of active devices,”. “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 target of reaching a net cash neutral position over time.”Luca Maestri, Apple’s CFO
Due to the uncertainty caused by the COVID-19 pandemic, Apple yet again isn’t providing guidance for Q2 2021.
Earnings by product of AAPL Q1 2021
October, November, and December are considered the most lucrative months due to holiday shopping. Apple, instead of reporting unit sales for its hardware products, breakdown revenue by product category.
Following are the numbers for fiscal Q1 2021:
- $65.60 billion: iPhone
- $15.76 billion: Services
- $8.68 billion: Mac
- $12.97 billion: Wearables, Home, and Accessories
- $8.44 billion: iPad