Apple posts $89.6B in Q2 revenue on back of huge growth across all major product categories

Apple earned $89.6 billion in revenue for the second fiscal quarter of 2021, a huge Wall Street beat attributed to strong growth in iPhone, wearables and services.Released ahead of its customary conference call with analysts, Apple has confirmed revenue of $89.6 billion for the quarter ending March 2021. This represents a year-on-year growth/shrink of 54% from Q2 2020, when Apple reported $58.3 billion at the start of the COVID-19 pandemic.”This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide,” said Apple CEO Tim Cook. “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.”The gross margin for the quarter reached $38 billion and is up from the year-ago quarter, which was 38.4%. Operating expenses for the period were $10.6 billion, above Q2 2020’s $9.5 billion. Diluted earnings per share is reported at $1.40.

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