Apple Posts Record Quarter

Posted on January 27, 2021 by Paul Thurrott in Apple with 52 Comments

Today, Apple reported that it earned a net income of $28.76 billion on revenues of $111.4 billion, what the firm calls “an all-time record.”

“This quarter wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide,” Apple CEO Tim Cook said in a prepared statement. “We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season.”

As Apple notes, each of its product categories saw double-digit growth in the quarter, and it’s no surprise that iPhone remains Apple’s biggest business, with almost $66 billion in revenues in the quarter, or about 59 percent of all revenues. iPhone revenues were up 17 percent year-over-year (YOY).

Services was Apple’s second-biggest business in the quarter, with $15.76 billion in revenues, up from $12.7 billion in the same quarter a year ago. Wearables, Home, and Accessories delivered almost $13 billion in revenues, while the Mac landed at $8.7 billion and the iPad hit $8.4 billion.

So there you go. Yikes.

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