Apple today announced financial results for its fiscal 2021 first quarter ended December 26, 2020. The Company posted all-time record revenue of $111.4 billion, up 21 percent year over year, and quarterly earnings per diluted share of $1.68, up 35 percent. International sales accounted for 64 percent of the quarter’s 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.”
“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 Q121 results:
• Revenue: $111.4 billion (vs. $91.819 YOY)
• EPS: $1.68 (vs. $1.25 YOY)
• iPhone: $65.597 (vs. $55.957 YOY)
• Services: $15.761 (vs. $12.715 YOY)
• Wearables, Home and Accessories revenue: $12.971 (vs. $10.010 YOY)
• Mac: $8.675 (vs. $7.160 YOY)
• iPad: $8.435 (vs. $5.977 YOY)
Prior to Apple’s earnings release, here’s what Wall Street expected (Refinitiv and FactSet consensus estimates):
• Revenue: $103.28 billion
• EPS: $1.41
• iPhone: $59.6 billion
• Services: $15.2 billion
• Wearables, Home and Accessories: $11.5 billion
• Mac: $8.6 billion
• iPad: $7.4 billion
Apple’s Board of Directors has declared a cash dividend of $0.205 per share of the Company’s common stock. The dividend is payable on February 11, 2021 to shareholders of record as of the close of business on February 8, 2021.
Apple will provide live streaming of its Q1 2021 financial results conference call beginning at 2:00 p.m. PT on January 27, 2021 at apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.
MacDailyNews Take: Apple just bulldozed the Street, then backed up and drove over it again!