Apple Posts Another Record-Setting Quarter With $81.4 Billion in Revenue

Tech giant’s revenue in services in Q3 also hits another all-time high

Getty Images

Apple blew right past Wall Street’s expectations for its third fiscal quarter of 2021.

For the three months ending on June 26, Apple reported $81.4 billion in revenue and earnings per share of $1.20 — well above the Wall Street expectations of $72.93 million in revenue and $1 per share. That revenue figure is up 36% year-over-year and was a record for a June quarter.

Apple hit another new high in revenue from its services segment, with $17.49 billion. iPhone sales brought in $39.57 billion.

“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” said Tim Cook, Apple’s CEO. “We’re continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.”

“Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans.”

Source: Read Full Article