Apple Posted Double-Digit Growth in the Last Quarter
Apple posted financial results for its fiscal 2021 first quarter with all-time record revenue of $111.4 billion, up 21 percent year over year. Quarterly earnings per diluted share were $1.68, up 35 percent. International sales accounted for 64 percent of the quarter’s revenue.
“This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide,” said Tim Cook, Apple’s CEO. “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.”
Net profit of $28.8 billion was up 29 percent, with revenue growing 21 percent to $111.4 billion. Services revenue grew 24 percent to $15.8 billion; Wearables, Home and Accessories 30 percent to $13 billion; Mac 21 percent to $8.7 billion; and iPad 41 percent to $8.4 billion. Apple’s Board of Directors has declared a cash dividend of $0.205 per share of the Company’s common stock. The dividend is payable on February 11, 2021 to shareholders of record as of the close of business on February 8, 2021.
“Our December quarter business performance was fueled 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,” said Luca Maestri, Apple’s CFO. “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.”