Apple (AAPL) reports another blowout quarter with sales up 54%. Apple authorizes $90 billion in share buybacks.
- Revenue: $89.58 billion versus $77.3 billion expected
- Earnings per share: $1.40 versus $0.99 expected
- iPhone revenue: $47.9 billion versus $41.5 billion expected
- iPad revenue: $7.8 billion versus $5.6 billion expected
- Mac revenue: $9.1 billion versus $6.8 billion expected
Apple today announced financial results for its fiscal 2021 first quarter ended December 26, 2020. The Company posted all-time record revenue of $111.4 billion, up 21 percent year over year, and quarterly earnings per diluted share of $1.68, up 35 percent. International sales accounted for 64 percent of the quarter’s revenue.
“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. 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.”
“Our December quarter business performance was fueled 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,” said Luca Maestri, Apple’s CFO. “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’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 will provide live streaming of its Q1 2021 financial results conference call beginning at 2:00 p.m. PT on January 27, 2021 at apple.com/investor/earnings-call. This webcast will also be available for replay for approximately two weeks thereafter.
Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.
-
Consolidated Financial Statements
CWEB Analyst’s have initiated a Buy Rating for Apple (AAPL) and potential upside of $1200 in 2021. Apple will be releasing a similar feature to instagram, snapchat hat that will work with its own iMessage application. And with over 1 Billion iPhone users this will be a huge addition to Apple’s revenue.
