Apple's quarterly sales top $100 billion for first time
Spurred by strong sales of the latest iPhones, Apple reported it took in a record $111 billion in revenue for the three months ended Dec. 31, as the company crushed expectations.
Why it matters: The move showed even a pandemic didn't dull demand for Apple's latest smartphones.
By the numbers:
- Revenue: $111.4 billion, up 21% year over year, and well above Wall Street expectations of around $103 billion, per FactSet (via WSJ).
- Earnings: $28.75 billion.
- Per-share earnings: $1.68, up 35% year-over-year, and well ahead of expectations of around $1.41.
The big picture: Sales also set a record in each of Apple's geographic segments and rose double digits across each product line.
- iPhone revenue: $65.6 billion, up from $56 billion a year ago
- Mac revenue: $8.7 billion, up from $7.2 billion a year ago
- iPad revenue: $8.4 billion, up from just under $6 billion a year ago
- Wearables and accessories revenue: $13 billion, up from $10 billion a year ago
- Services revenue: $15.8 billion, up from $12.7 billion a year ago
What they're saying: "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,” Apple CFO Luca Maestri said in a statement.
- Apple CEO Tim Cook said on a conference call that there are 1.65 billion of its devices in active use, including more than 1 billion iPhones.
Go deeper: Average U.S. iPhone price hits a record $873