Apple is always on the tail of a successful neighborhood, according to a new report of the results released today. More than the last three months, the company posted a total of $ 89.6 billion in revenue – including nearly $ 48 billion from iPhone sales – and set another quarterly record in the process.
“We are proud of our performance for the March quarter, which included record sales in each of our geographies and strong double-digit growth in each of our product categories, leading our installed base of active devices. at an all time high, “said Apple CFO Luca Maestri in a report.
Unsurprisingly, today’s results couldn’t be more different than what the company reported this time around last year. CEO Tim Cook noted ahead of earnings day that the company would miss its previously released revenue forecast, and nodded at the “unprecedented global impact” of COVID-19 in the official press release on Apple results. (Q2 2020 ended on March 28, after dozens of states and several countries have placed large stay-at-home orders.) The company was still posting 1% year-over-year revenue growth at the time, but the recent performance of Apple are suggesting a return to business as usual – or something like that – in Cupertino.
As mentioned, iPhone sales accounted for more than half of the company’s overall revenue this quarter, which is a 66% increase in sales since this period last year. Demand is almost certainly fueled by the range of 5G compatible iPhone 12 devices, and as we’re dying to hear how specific models like the iPhone 12 mini performed, it’s generally starting to look like the big upgrade cycle Wall Street is calling for has finally arrived.
Surprisingly, Mac sales hit a high level this quarter as well. The company’s computers earned it $ 9.1 billion in revenue, another all-time high for Apple. We repeat: Apple did After in Mac sales over the past three months compared to the 2020 back-to-school season and its absolute monster of a vacation term. We expect senior Apple executives to offer some insight into why Mac sales have exploded this quarter, but it looks like it’s a safe bet that the positive buzz around the new company M1 powered laptops and the lingering uncertainty of the pandemic has prompted people to invest in their PCs.
The growth didn’t stop there either. IPad sales fell from $ 4.4 billion in the last year’s quarter to $ 7.8 billion this time, and although momentum has slowed somewhat for the wearable division, Apple’s home and accessories, it still managed to generate more revenue than the company’s tablets. Meanwhile, Apple’s crucial services business – which includes Cupertino’s many subscription services – hit another all-time high with $ 16.9 billion in revenue.
While Apple has apparently adapted quite well to the activities of the pandemic era, the company faces what could prove to be an even deeper challenge: a deep scrutiny from regulators and lawmakers. of the whole world. Just yesterday Reuters reported that Russia’s Federal Antimonopoly Service plans to fine Apple $ 12 million for “abusing its dominant position in the iOS distribution market” to create an unfair advantage for its own software. (Apple has said it will appeal the FAS decision.) Meanwhile, the Financial Times notes that the European Commission is also set to file antitrust charges against Apple, resulting from a Spotify complaint 2019 about the huge reduction the company is taking in application revenue from developers.
Closer to home, Apple is preparing for a protracted antitrust battle against Epic, which sued the company in 2020 and was accused of creating restrictions on developers that amounted to “An abusive takeover” during a recent Senate hearing.
This is a developing story …
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