Apple’s $111.4B Q1 shatters all-time quarterly record

Apple earned $111.4 billion in revenue in the first quarter of 2021, the iPhone maker has confirmed, with the record-setting holiday quarter driven by double-digit growth in all product categories.

Announced before the company’s usual conference call with analysts, Apple’s revenue of $111.4 billion for the quarter ending December 2020 represents growth of 21% on the $91.8 billion seen one year prior, itself a record-setting set of results. Earnings per share is set at $1.68, comparatively higher than the $4.99 seen in Q1 2020 before the four-way stock split.The gross margin of $44.3 billion is up from Q1 2020’s $35.2 billion, while operating expenses are up/down year-on-year to $10.8 billion from $9.6 billion. Net profit is $33.5 billion, an improvement from $25.6 billion one year prior.

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