According to Apple quarterly report, they experienced enormous earnings during the holiday season in the first financial Quarter of 2021. In contrast to the sales, they have reported in the previous years, the revenue they accumulated is worth over $111.44 billion. The $28.76 billion they also profited for 2020 Q1 — that is quite a significant record!
Remember, aside from Apple’s gadget units, the accumulation of its other sub-brands and services is to be considered to ascertain Apple’s total net worth. According to its revenue report, they listed their revenue based on their product category.
The iPhone maker highlighted that its current net value is based on the revenue of each of its diverse sub-brands and Services including, iPhone, wearables, Mac, etc. While its services include Apple TV, Apple Music, etc.— each brand autonomously contributes its share of the revenue.
According to Apple’s Chief Executive, Tim Cook, the quarterly report stated that they accumulated up to 35% revenue during 2021 Q1, equivalent to $1.68. However, on its year-to-year basis, they have acquired over 21% gain.
Cook said “This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide. We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products we delivered across a historic holiday season. “
Apple’s Chief Executive also noted that the money they profited would be injected into the entire U.S economy, whereby they will channel the funds into each community of the 50 states in America to push supports its fundamental initiatives such as an open society justice initiative and racial equality initiative.
According to Apple’s Chief Financial Officer, Luca Maestri, she added that the surge they experienced during the last quarter of 2020 was triggered by “the double-digit growth” autonomously from its sub-brands in “each of our geographic segments and an all-time high for our installed base of active devices,”
“These results helped us generate a 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,” she added.
Nonetheless, the world-famous iPhone maker is not assured they would experience such a productivity level by the second quarter of 2021, irrespective of the second wave of the COVID-19.
The numbers Apple has generated this year is more than significant, especially the last three months of the previous year that mark up the first quarter of its financial year, including October, November, and the month of Christmas is reserved for holiday shopping that bolsters the American tech Company’s net value.
Due to the COVID-19 and the pandemic’s consistency, Apple did not meet analyst expectations towards generating massive revenue — their reasons is related to the unpredictable circumstances attached to the pandemic. Although analysts were expecting twice the value Apple published in their fiscal report.
According to analyst research, during the first quarter of the previous year, the iPhone maker generated an impressive revenue amount. Its Mac, iPhone, and iPad business unit have been twice as productive as its other sub-brands over time.
A typical Apple fiscal report does not detail its products’ unit sales; rather, they account for their earnings according to the product category. For example:
- iPhone: $65.60 billion
- Services: $15.76 billion
- Mac: $8.68 billion
- Wearables, Home, and Accessories: $12.97 billion
- iPad: $8.44 billion, get full details on Apple newsroom.