We thought 2020 was a bad year for business? Apple’s Q1 report 2021 seems to say otherwise. December 26, 2020, marked the end of Fiscal 2021 first quarter, and the results are … well, very Apple-like.
What does 21 signify for Apple in 2021? The Q1 earnings report is out and Apple’s revenue is up by 21% year over year. According to the official statement, Apple has earned $111.44 billion in revenue. If David Shepherd were with us, he would have jumped up and down at the number; maybe in cricket heaven he still does!
The quarterly earnings per diluted share at $1.68 is up by 35%. Apple has also returned over $30 billion to its shareholders during the quarter. A cash dividend of $0.205 per share of the Company’s common stock will be paid to shareholders on February 11, 2021.
Remember how buying 16 apples and eating 12 of them felt so presumably normal in elementary school mathematics? Makes no sense. Agreed! But what’s absolutely no-nonsense are the sales numbers Apple pulled off in this quarter. Here are some numbers from the report that left us awestruck.
- iPhone – $65,597 billion
- Mac – $8,675 billion
- iPad – $8,435
- Wearables, Home and Accessories – $12,971
- Services – $15,761
The magic of iPhones still prevails and the launch of new iPhone models in October worked like a charm. The bestselling category earned the company 17% higher revenue than the previous year’s Q1. Apple was able to leverage the pandemic induced work-from-home trend as well. With the new iPad Air and new M1 Mac released during the quarter, Mac and iPad businesses were up by 14% and 41% respectively. While the Wearables, Home & Accessories segment reported significant growth ( 29.5%), Apple services saw a sturdy improvement at 24% too.
When the iWorld is segmented geographically, the USA continues to be Apple’s foremost playground, bringing in $46,310 billion to the total revenue. However, international sales cumulatively earned more for the company. Keeping up the momentum, 64% of the quarter’s revenue was generated from sales outside America. What caught our eye is the area that CEO Tim Cook calls strong across the board. Including the country that must not be named, (courtesy Covid-19 Pandemic), this geographical segment stirred up Apple sales by a shooting 56% high. A topic of discussion we have to get into sometime soon!
Calling the quarter a historic holiday season, Tim Cook expressed gratitude towards his worldwide network of team members for their efforts and contribution in achieving the new all-time record. We just want to know how Cook & Co. concoct the formulae of success year after year.
While Apple has not indicated anything on Q2 2021 yet, we are sure the AppleLords will have plans to beat its own soaring trend of success. Live long and prosper, we say. (Ooh, what a crossover that would be!)
