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Credit: Apple

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

Go deeper

Dan Primack, author of Pro Rata
Jan 29, 2021 - Economy & Business

Roblox postpones IPO over regulatory concerns

Source: Denis Kopotun via YouTube

Roblox, a San Francisco-based gaming platform for kids and teens, has postponed its IPO due to regulatory concerns over how it recognizes revenue, according to Reuters.

Why it matters: Roblox is one of the most highly anticipated IPOs of 2021, having recently raised private funding at a $29.5 billion valuation, but this is its second setback in as many months.

Updated 4 mins ago - Energy & Environment

Bomb cyclone prompts blizzard warnings from Virginia to Maine

Computer model projection showing the intense storm off of Cape Cod on Jan 29, 2022, with heavy snow and strong winds lashing the coastline. (Weatherbell.com)

Blizzard warnings are in effect for 11 million people from coastal Virginia to eastern Maine as a potentially historic winter storm is set to slam the Mid-Atlantic and Northeast beginning Friday.

Why it matters: The storm will bring hazards ranging from zero visibility amid hurricane force wind gusts and heavy snow, to coastal flooding that will erode vulnerable beaches and threaten property from the Jersey shore to coastal Massachusetts.

Jan. 6 panel subpoenas "alternate" Trump electors

Rep. Bennie Thompson (D-Miss.) addresses the media after a House Jan. 6 select committee hearing in July 2021. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

The House select committee investigating the Jan. 6 attack on Friday announced subpoenas for more than a dozen people who led groups of "alternate electors" for former President Trump.

Why it matters: Slates of fake electors organized by pro-Trump forces in the wake of the 2020 election have come under intense scrutiny in recent weeks around the one-year anniversary of the attack.