Today in a press release Apple (AAPL) reported its Q3 earnings for 2021. The tech titan reported a staggering $81.43B of revenue which is up over 36 percent on the same quarter one year ago. Profits were $21.74B with earnings per share of $1.30.
Due to the ongoing impact of the pandemic, Apple has not provided guidance for fiscal Q4 results. That being said Apple has crushed even the most optimisic analysts expectations. The high end estimate being $77.1B.
Some key highlights:
- iPhone Revenue of $39.57 billion vs. $34.01 billion estimated, up 49.78% year-over-year
- Services revenue of $17.48 billion vs. $16.33 billion estimated, up 33% year-over-year
- iPad revenue of $7.37 billion vs. $7.15 billion estimated, up 12% year-over-year
- Mac revenue of $8.24 billion vs. $8.07 billion estimated, up 16% year-over-year
- Apple Watch, Airpods and other revenue of $8.76 billion vs. $7.80 billion estimated, up 40% year-over-year
Tim Cook shared the following commentary:
“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” said Tim Cook, Apple’s CEO. “We’re continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.”
While CFO Luca Maestri had this to say:
“Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans.”
It would seem the tech titan has yet to reach its ceiling when it comes to pandemic era growth. It’ll be interesting to see if that changes over the current quarter with many of us returning to the office.
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Featured Image: Visual Karsa via Unsplash