Q1 2021: For the first time, Apple earns more than $ 100 billion in a quarter

Apple has just released its Q1 2021 financial statements, which runs from September to December of 2020. This is also the first quarter of the iPhone 12 line to reach consumers after being delayed. with routine.

This time also saw a new Apple record, the first time the company’s revenue surpassed 100 billion in a quarter: reaching 114 billion in revenue and 28.88 billion in profit – beating all expectations and expectations. Optimistic predictions of Wall Street analysts.

Despite delays in opening dates and several retail stores closing, the iPhone business still performed exceptionally well: growing 17% to reach $ 65 billion in revenue, the highest ever. Previously, the iPhone’s record quarterly revenue was $ 61.58 billion in Q1 2018.

In addition to the new flat edge design, the iPhone 12 series is the company’s first device to be equipped with a 5G modem – something many predict it will bring a new “super cycle” of upgrade from those who still use it. old iPhones have been around for many years now. This quarter’s positive business results are a clear testament to that.

Sales of iPads and Macs continued to skyrocket as the trend of working from home and distance learning persisted due to the Covid-19 epidemic. IPad sales soared 41 percent to $ 8.44 billion, and Mac sales were up 21 percent from the same period last year, reaching $ 8.68 billion in revenue.

In addition to the pandemic, the Mac line also has a new “stimulant” with the 13-inch MacBook Pro and the Mac Mini equipped with the new Apple M1 processor. These products start the transition from Intel chips to chips designed by Apple in the near future.

In the company’s markets, China continues to be the biggest bright spot, despite its recent trade disputes with the US. Revenue from this market soared 57% to $ 21.33 billion.

Unsurprisingly, other accessories such as the AirPods / AirPods Pro and Apple Watch continue to be attractive holiday gifts, driving sales by up to 30% year-on-year.

Contribution to total Apple revenue of the business segments

During the earnings report with investors, CEO Tim Cook also announced another notable figure for Apple. The company currently has a total of 1.65 billion active devices globally, of which more than 1 billion are active iPhones.

Taking advantage of the huge number of devices being activated for service business is a wise strategy for Apple. After a slew of services such as Apple Music, Apple Arcade, Apple TV Plus and Apple News Plus, the company continued to launch Apple Fitness Plus in the quarter. The service business also saw double-digit growth, 24% to 15.8 billion USD with more than 620 million subscribers on all services.

Currently, the company holds $ 195.57 billion in cash, up $ 3.7 billion over the same period last year. This mountain of money is enough for the company to invest in any field that it sees potential, including electric cars, where competition is fierce from leading competitors such as Tesla, GM, Volkswagen, …

Refer to The Verge