Apple Rakes In $111.4 Billion During Holiday Season
January 28, 2021Apple has reported its best quarter ever, with a revenue increase of 21% year over year. The financial results of its fiscal 2021 first quarter ended December 26, 2020 saw Cupertino net a total of $111.4 billion. This isn’t a surprise though, especially since it covers the holiday season as well.
The newly launched iPhone 12 family of phones played a contributing role in achieving such big numbers. In total, Apple’s products accounted for 95.68 billion, which its services achieved 15.76 billion in revenue. Since the company’s operating expenses this quarter was just 10.79 billion, that leaves Cupertino with a lot of cash on hand.
“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.”
He later added, “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.”
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 recently launched its new Macbook Air, Mac Mini and Macbook Pro that are powered by its own home-baked chip, the M1. Built on the ARM architecture, the chip heralds a new age of mobile computing. The promise of 21 hours battery life and x86 rivaling computing prowess, has made the M1 the talk of the town.
If you’re interested in listening to the earnings call, click here. The condensed financial report can be found here.
