Apple Earns $89.6 Billion In Q2, 2021

Apple has had a prosperous second quarter this year, which ended March 27, 2021. In its latest earnings call, Cupertino announced that its revenue reached $89.6 billion, which is a 54% increase compared to the same period last year. International sales accounted for 67% of said earnings. The company also announced its quarterly earnings per diluted shares of $1.40.

“This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, “said Tim Cook, Apple’s CEO. he added, “Apple is in a period of sweeping innovation across our product lineup.”

“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,” said Luca Maestri, Apple’s CFO.

Apple’s board of directors has declared a cash dividend of $0.22 per share of the Company’s common stock. This is a 7% increase compared to the same period last year. The board of directors has also authorized an increase of $90 billion to the existing share repurchase program.

The consolidated financial statement can be viewed here.

The introduction of the all-new iMac and iPad Pro models should help bolster Apple’s sales figures further. For the first time in decades Cupertino is offering its desktop computers in 7 different colors. All of them will be powered by the M1 chip, which represents the company’s first stab at ARM based computing in place of its tried and tested x86 architecture.

The decision to move away from Intel processors and embrace mobile based ones, was met with skepticism. But the performance of the M1 has removed any doubt that people had regarding the feasibility of a mobile processor handling workloads predominately meant for high performance desktop computers.