For the quarter, Apple posted revenue of $111.4 billion and net quarterly profit of $28.8 billion, or $1.68 per diluted share, compared to revenue of $91.8 billion and net quarterly profit of $22.2 billion, or $1.25 per diluted share, in the year-ago quarter.
As expected thanks largely to the later launch of the iPhone 12 series that pushed it entirely into the first fiscal quarter rather than the traditional end of the fourth quarter, this was the best quarter in Apple’s history in terms of revenue and profit, topping the first fiscal quarter of 2020 and easily breaking through the $100 billion mark in revenue.
Gross margin for the quarter was 39.8 percent, compared to 38.4 percent in the year-ago quarter, with international sales accounting for 64 percent of revenue. Apple also declared an upcoming dividend payment of $0.205 per share, payable February 8 to shareholders of record as of February 11.
“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.”
As has been the case for the past several quarters, Apple is once again not issuing guidance for the current quarter ending in March, as considerable uncertainty surrounding the global health situation’s impact remains.
Apple will provide live streaming of its fiscal Q1 2021 financial results conference call at 2:00 p.m. Pacific, and MacRumors will update this story with coverage of the conference call highlights.
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This article, “Apple Reports Record-Setting 1Q 2021 Results: $28.8B Profit on $111.4B Revenue” first appeared on MacRumors.com
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