Apple Made Over $100 Billion in Q1 2021

Apple has reportedly made over $100 Billion in Q1 2021. This was disclosed in the company’s financial results announcement for the first quarter of the 2021 fiscal year.

Apple Made Over $100 Billion in Q1 2021

Apple’s 2021 Q1 quarter runs October through December last year because Apple starts its financial year with the all-important holiday season. During this three-month period, Apple made a revenue of about $111.4 billion, a 21% major increase over last year.

It is the first time in history, that Apple will record over $100 billion in revenue in a quarter.

The strong sales performance across the board was noted as the major drivers of this record sale coupled with some massive sales of the iPhone 12 series.

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Apple Made Over $100 Billion in Q1 2021

iPhone alone for the quarter brought $65.60 billion in revenue, an increase of 17% year-to-year. Mac, on the other hand, experiences a revenue increase of 21% to $8.68 billion, while iPad revenue also went up 41% to $8.44 billion. AirPods and Apple Watch went up 29% year-to-year to $12.97 billion and services including Apple Music, the App Store, and others collectively move up 24% to $15.76 billion., all in the first quarter.

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Commenting about the recorded achievement, Luca Maestri, Apple's CFO in a press release said:

“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,”. “These results helped us generate record operating cash flow of $38.8 billion. We also returned over $30 billion to shareholders during the quarter as we maintain our target of reaching a net cash neutral position over time.”

Apple CEO Tim Cook also said:

“This quarter for Apple wouldn't have been possible without the tireless and innovative work of every Apple team member worldwide. We're gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season.”

Apple's current market cap only passed a $1 trillion milestone in August 2018 and has continued to grow spontaneously. At the present, it stands at around $2.4 trillion.

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