Apple Q1 2021 Sets Record $111.4 Billion in Revenue

Apple has announced its Q1 2021 financial results, for the quarter ended December 26, 2020. The company saw a record $111.4 billion in revenue and earnings per diluted share of $1.68, to go with international sales taking up 64% of Q1 revenue.

“This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide,” said Tim Cook, Apple’s CEO. “We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season. We are also focused on how we can help the communities we’re a part of build back strongly and equitably, through efforts like our Racial Equity and Justice Initiative as well as our multi-year commitment to invest $350 billion throughout the United States.”

The company’s iPhone, Wearables and Services set new revenue records, thanks to sales of iPhone 12 and more.

“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,” said Luca Maestri, Apple’s CFO. “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 saw net income of $28.7 billion for the quarter. Here’s a breakdown of revenue by products and services:

  • iPhone: $65.5 billion
  • Mac: $8.6 billion
  • iPad: $8.4 billion
  • Wearables, Home and Accessories: $12.9 billion
  • Services: $15.7 billion

Apple’s Board of Directors has declared a cash dividend of $0.205 per share of the Company’s common stock, payable on February 11, 2021 to shareholders of record as of the close of business on Feburary 8, 2020.

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