Apple posts record revenue of $81 billion in its fiscal 2021 third quarter

July 28th 2021

2 mins read

Apple posts record revenue of $81 billion in its fiscal 2021 third quarter

Image Source: Engadget

Apple has announced its financial results for its fiscal 2021 third quarter ended June 26, 2021. The reports show that the tech giant has performed extremely well in the 3rd quarter by posting record revenue of $81.4 billion. Apple’s revenue was up by 36% year over year. Net income, meanwhile, hit $21.7 billion, nearly double the $11.3 billion, the company reported in the same quarter last year.

“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, 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.” - Tim Cook, Apple’s CEO.

Image Source: iphoned

Apple’s iPhone revenue alone was up by 53% in the quarter, accounting for almost $40 billion. Apple’s Mac and iPad also performed well making $8.24 billion and $7.37 billion respectively. Apple Services was the company’s second-biggest category bringing in $17.5 billion and reported 33% year-over-year growth. Other products category that includes AirPods and Apple Watch also saw yearly growth of 40%, accounting $8.77 billion.

“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.” - Luca Maestri, Apple’s CFO

Analysts believe the company’s success is all thanks to online studies and work. The shift of consumers towards 5G smartphones is believed to be the major factor in the sudden jump in the sales of iPhones.

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