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Apple breaks all-time revenue record

The company recorded its highest earnings for the period of Q1 2021, aided by growth in all its product segments.

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Apple has posted all-time record revenue of $111.4-billion, up 21% year-on-year, for its 2021 first quarter ended 26 December 2020.

International sales accounted for 64% of the quarter’s revenue. Sales were driven by the iPhone, wearables, and services, all of which set new revenue records.

“This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide,” says Apple CEO Tim Cook. “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.”

Apple CFO Luca Maestri says: “Our December quarter business performance was fuelled 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.

“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 declared a cash dividend of $0.205 per share of the Company’s common stock, after reporting quarterly earnings per diluted share of $1.68, up 35%.

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