Apple Q3 2021 Sets Revenue Record; Now 700 Million Subscribers of Services

Apple has announced its Q3 2021 financial results, for the quarter ended June, 2021. The company saw a record $81.4 billion in revenue for the quarter, up 36% year-over-year, with earnings per diluted share of $1.30.

It was an impressive quarter considering the global chip shortage, which appears to have not affected Apple as much as others.

“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” said Tim Cook, Apple’s CEO, in a statement.

“We’re continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future,” added Cook.

Apple saw net income of $21.7 billion for the quarter. Here’s a breakdown of revenue by products and services:

  • iPhone: $39.5 billion
  • Mac: $8.2 billion
  • iPad: $7.3 billion
  • Wearables, Home and Accessories: $8.7 billion
  • Services: $17.4 billion

Apple saw huge sales in China, as they increased 58% to $14.76 billion in the fiscal third quarter ended June 26, said Cook to Reuters

Cook added, “It wasn’t just iPhone. We set a new quarterly record for Mac, for wearables, home and accessories, and for services” in China, adding “It was our strongest geography.” Typically, the ahead of the fall iPhone launch, sales usually taper, but that doesn’t seem to be the case.

The Apple CEO also said iPhone 12 Pro and 12 Pro Max were strong sellers, without disclosing numbers. Cook said Apple also now has 700 million subscribers on various platforms, up from 660 million in the previous quarter. Services from the company such as AppleCare also set quarterly sales records.

Apple was still affected somewhat by the global chip shortage, as Cook said it limited how many Macs and iPads it was able to sell, with the impact “lower than the low end”, according to the CEO.

“Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO, in a statement. “We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans.”

Apple’s Board of Directors has declared a cash dividend of $0.22 per share of the Company’s common stock, payable on August 12, 2021 to shareholders of record as of the close of business on August 9, 2021.