Apple has just announced its financial results for Q2 2021, covering the time frame between January 1 and March 31, 2021. The company saw a record-breaking $89.6 billion in quarterly revenue up 54% year-over-year. Q2 2021 saw major growth across all of Apple’s product lines, specifically Services and Mac sales – both product categories set new revenue records.
Apple Q2 2021 sets record with $89.6 billion in revenue
Overall sales for Q2 2021 were up year-over-year for all of Apple’s product categories. If we break down the overall earnings, Apple had revenue of $47.9 billion from iPhone, $9.1 billion from Mac, and iPad revenue of $7.8 billion. Its Wearables, Home, and Accessories brought in $7.8 billion, and its Services business earned $16.9 billion. The company’s Services and Mac revenue set new records, presumably as working and learning from home has led to a rise in computer sales.
The results of Q2 2021 were higher than analysts predicted. Analysts from different standings estimated a growth ranging from 32% to 36%. With those figures, the revenue was expected to jump from $58.21 billion in the same quarter last year to somewhere between $79.77 billion to $77.10 billion.
Apple CEO Tim Cook said that Apple is in a period of “sweeping innovation” across its product lineup:
“This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us,” said Tim Cook, Apple’s CEO. “Apple is in a period of sweeping innovation across our product lineup, and we’re keeping focus on how we can help our teams and the communities where we work emerge from this pandemic into a better world. That certainly begins with products like the all-new iMac and iPad Pro, but it extends to efforts like the 8 gigawatts of new clean energy we’ll help bring onto the grid and our $430 billion investment in the United States over the next 5 years.”
Apple CFO Luca Maestri added:
“We are proud of our March quarter performance, which included revenue records in each of our geographic segments and strong double-digit growth in each of our product categories, driving our installed base of active devices to an all-time high,” said Luca Maestri, Apple’s CFO. “These results allowed us to generate operating cash flow of $24 billion and return nearly $23 billion to shareholders during the quarter. We are confident in our future and continue to make significant investments to support our long-term plans and enrich our customers’ lives.”
Apple’s Board of Directors has declared a cash dividend of $0.22 per share of the Company’s common stock, a 7% increase, payable on May 13, 2021, to shareholders of record as of the close of business on May 10, 2021. The board of directors has also authorized an increase of $90 billion to the existing share repurchase program.