Apple has once again broken a new record for its largest-ever revenue in a single quarter, as shown on the company’s latest earnings report. The tech giant amassed a total of $111.4 billion USD in revenue in Q1 of 2021. Not only is it an all-time high for Apple, but it indicates a growth of over 20 percent compared to previous years.
Most of this success was attributed to the sale of Apple’s various iPhone 12 models, raking in $65.6 billion USD in revenue — that’s more than what the entire company was making just a few years ago. Of this amount, Greater China accounted for $21.3 billion USD, likely due to demand for 5G-friendly smartphones. But beyond iPhone sales, the company also saw growth in its other offerings, like iPads ($8.44 billion USD) and Apple services ($15.8 billion USD) — both of which are new records of their own.
“We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season,” said Tim Cook as a response to the report. “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 USD throughout the United States.”
Sources remain skeptical on whether the company will be able to keep up this kind of momentum, but the report, at least, makes it clear the company is headed in a good direction.
In case you missed it, Apple is celebrating Chinese New Year with limited-edition AirPods.