Apple Announces Record June Quarter Earnings: $81.4B Revenue And $21.7B Profit

Apple on Tuesday afternoon published financial results for the third fiscal quarter of 2021, which corresponds to the second calendar quarter of the year. During this quarter, the company posted a record-setting quarter revenue of $81.4 billion, up 36 percent year over year, and a net quarterly profit of $21.7 billion. For the sake of comparison, Apple posted a revenue of $59.7 billion and a net quarterly profit of $11.25, in the year-ago quarter.

“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” said Tim Cook, Apple’s CEO. “We’re continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.”
The record quarter was fueled by new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices. Tim Cook said that it was the biggest upgrade quarter for Q3 ever and that the iPhone 12 upgrade cycle, on the whole, was "very strong." iPhone 12 Pro and the iPhone 12 Pro Max were selling particularly well.

Other highlights from the earnings:
  • Macs and iPads are selling in record numbers, Mac brought in $8.8 billion, up to $6.5 million compared to a year ago, iPad revenue was at $7.4 billion, up from $6.6 billion in the year-ago quarter
  • The Service division continues to thrive, brought in $17.5 billion during the quarter, up 33 percent from $13.2 billion in the year-ago quarter
  • Apple now has more than 700 million paid subscriptions, a big jump of over 150 million from last year
  • There are 35 Emmy nominations to which Apple TV+‌ shows have received
  • Apple said its Apple's Wearables, Home, and Accessories category posted revenue of $8.8 billion, up 36 percent from $6.5 billion in the year-ago quarter
  • CFO Luca Maesteri expects supply constraints to hit the iPhone and the iPad in the future
Lastly, Apple’s board of directors has declared a cash dividend of $0.22 per share of the Company’s common stock. The dividend is payable on August 12, 2021, to shareholders of record as of the close of business on August 9, 2021.


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