The financial returns are in and Apple earned $89.6 billion in revenue for the second fiscal quarter of 2021.
Released ahead of its customary conference call with analysts, Apple has confirmed revenue of $89.6 billion for the quarter ending March 2021. This represents a year-on-year growth of 54percent from Q2 2020, when Apple reported $58.3 billion at the start of the COVID-19 pandemic. Net profit rose a gargantuan 110 percent to hit $23.6 billion.
The gross margin for the quarter reached 42.5 percent is up from the year-ago quarter, which was 38.4 percent. Operating expenses for the period were $10.6 billion, above Q2 2020’s $9.5 billion. Diluted earnings per share is reported at $1.40.
Apple’s record-setting Q1 revenue of $111.4 billion was aided by considerable growth in iPhone sales, due to the release of its iPhone 12 handsets. iPhone revenues hit $42.9 billion, up from $28.96 billion in Q2 2020.
The record-setting Q1 revenue of $111.4 billion was aided by considerable growth in iPhone sales, due to the release of the iPhone 12 range. Q2 benefits from Q1’s lead, with iPhone revenues hitting $47.9, up from the $28.96 billion seen in Q2 2020.
Revenues from iPad rose to $7.8 billion for the quarter, up from $.4 billion from one year ago. Mac revenues rose to $9.1 billion, up from $5.4 billion in Q2 2020. Revenues for Wearables, Home, and Accessories rose to $7.8 billion form $6.3 billion from Q2 2020.
This represents the first full quarter of sales for the iPhone 12 range, as well as the Apple Watch Series 6, the Apple Watch SE, the 2020 iPad, the iPad Air, the HomePod mini, the initial wave of Apple Silicon Macs, and the AirPods Max.
It’s unknown as to whether Apple’s results met the company’s own internal forecast, as it has refused to issue quarterly forecasts since the start of the pandemic. However, for the Q1 results, CFO Luca Maestri said he expected Apple’s revenue growth to accelerate year-on-year in the second quarter.
As expected, Apple did not provide a forecast for Q3 2020.
Stay tuned for additional details as they become available.
Via AppleInsider