Apple smashes expectations in record-breaking first quarter 2021 | Major Businesses | Business | News | Rapid TV News
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Having delivered a massive last quarter of 2020, Apple has way surpassed its own and Wall Street’s calculations in the first three months of 2021.
apple new imac 29Apr2021
In the fiscal 2021 second quarter ended 27 March, the CE giant posted revenue records in each of its geographic segments and strong double-digit growth in each of its product categories, driving the installed base of active devices to an all-time high. Overall quarterly revenues were $89.6 billion, up 54% year-on-year. International sales accounted for 67% of the quarter’s total revenue. Net income for the quarter was $23.630 billion, more than double that of a year ago.

Revenues broke down to $72.683 billion of product sales and $16.901 billion of services. These represented rises of a staggering 61.64% and 26.61% respectively compared with the same period in 2020 and clearly show the effect of the launch of the iPhone 12 in the autumn of 2020. Indeed, Apple revealed that in the quarter it made $47.938 billion iPhone sales, compared with $28.962 billion a year earlier.

Commenting on the second quarter performance, Apple CEO Tim Cook said that the quarter reflected both the enduring ways Apple’s products have helped our users meet this moment in their own lives, as well as what he said was the optimism consumers seemed to feel about the post Covid environment.

“Apple is in a period of sweeping innovation across our product line-up, and we’re keeping focus on how we can help our teams and the communities where we work emerge from this pandemic into a better world, he added. “That certainly begins with products like the all-new iMac (pictured) and iPad Pro, but it extends to efforts like the 8 gigawatts of new clean energy we’ll help bring onto the grid.”