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Apple revenue crosses $100 billion for first time as iPhone sales soar globally

apple logoAccording to knowledge launched by Counterpoint, the iPhone 12 turned the world’s best-selling ‘5G’ cellphone inside two weeks of launch. (Image: AP)

Apple reported $111.4 billion in revenue marking a file fiscal first quarter ended December 26 on the again of robust iPhone sales, CEO Tim Cook introduced throughout Cupertino’s earnings name on Thursday. International sales accounted for 64% of the quarter’s revenue with the corporate persevering with to make fast strides in markets like India.

Apple revenue crossed $100 billion for the first time in Cupertino’s historical past through the ultimate calendar quarter of 2020 and a ‘historic’ vacation season, up 21 % 12 months over 12 months, however most significantly, iPhone sales reached ‘record’ $65.6 billion—the earlier finest was $61.58 billion, which Apple achieved in fiscal Q1, 2018. Simply put, the iPhone is creating wealth once more after sales missed Wall Street estimates final quarter partly attributable to a 25% fall in revenue in China.

“Despite the ongoing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period ever, and the early response to all our new products, led by our first 5G-enabled iPhone lineup, has been tremendously positive,” Cook had mentioned over the past earnings name. Clearly, the iPhone 12 didn’t disappoint, regardless of coming later than typical—in October 2020.

According to knowledge launched by Counterpoint, the iPhone 12 turned the world’s best-selling ‘5G’ cellphone inside two weeks of launch. The iPhone 12 Pro was a detailed second. Together, the iPhone 12 (with 16% market share) and iPhone 12 Pro (with 8% market share) captured “close to one-fourth of the total 5G smartphone sales in October,” the analysis agency had mentioned in the identical report.

Also read | iPhone 12 became world’s best-selling 5G phone within two weeks of launch

Apple additionally launched the inexpensive second-generation iPhone SE final 12 months along with the iPhone 12 Mini, iPhone 12, iPhone 12 Pro, and iPhone 12 Pro Max. This was the first time Apple launched as many iPhones, in a 12 months, giving patrons extra ‘new’ choices to select from throughout totally different value factors.

Moving on, iPad sales had been up 41% and Mac sales reached 21% 12 months over 12 months, a pattern that’s unsurprisingly being carried over from the final quarter, as individuals around the globe continued to work and be taught from house within the wake of the coronavirus outbreak. The numbers are encouraging for Apple’s latest Mac computer systems, together with the M1-powered MacEbook Air, Pro, and Mac Mini, and iPads just like the iPad Air.

CEO Tim Cook mentioned Apple surpassed 1.65 billion lively units globally through the quarter with the iPhone accounting for over 1 billion of these units.

Also read | Apple had a record September quarter in India; iPhone 12 getting tremendously positive response, says Tim Cook

Elsewhere, Apple recorded $12.97 billion in revenue within the wearables, good house and accent section and $15.8 billion from companies within the quarter.

“Our December quarter business performance was fuelled by double-digit growth in each product category, which drove all-time revenue records in each of our geographic segments and an all-time high for our installed base of active devices,” Apple CFO, Luca Maestri mentioned in an announcement. “These results helped us generate record operating cash flow of $38.8 billion. We also returned over $30 billion to shareholders during the quarter as we maintain our target of reaching a net cash neutral position over time.”

Like the final quarter, Apple didn’t present steerage or earnings forecasts once more.

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