Apple posts a strong quarterly result – $89.6 billion in revenue

Apple released second quarter results of its fiscal year 2021 results on the 28th of April. The financial period accounts for upto March 27, having begun from the first of the current year. The company recorded a 54 percent year over year (YoY) increase in revenue – a whopping $89.6 billion.

The $2 trillion US based company Apple reported that 67 percent of the second quarter’s revenue was from international sales. The company recently announced multiple new products across the iPad, the iPhone, services, and accessories lineups. 

New Mac, iPad products help

“This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us,” said Apple CEO Tim Cook. “Apple is in a period of sweeping innovation across our product lineup, and we’re keeping focus on how we can help our teams and the communities where we work emerge from this pandemic into a better world. That certainly begins with products like the all-new iMac and iPad Pro, but it extends to efforts like the 8 gigawatts of new clean energy we’ll help bring onto the grid and our $430 billion investment in the United States over the next 5 years.”

Apple posts a strong quarterly result – $89.6 billion in revenue

Last year, Apple announced the transition of the Mac from using Intel to its in-house designed silicon based on the ARM architecture. The move has enabled the release of some exciting new Mac computers. As a result, the company has seen sales of Mac computers soar; particularly the M1 MacBook Air which has received very positive reviews from the entire industry.   

“We are proud of our March quarter performance, which included revenue records in each of our geographic segments and strong double-digit growth in each of our product categories, driving our installed base of active devices to an all-time high,” said Apple CFO Luca Maestri. “These results allowed us to generate operating cash flow of $24 billion and return nearly $23 billion to shareholders during the quarter. We are confident in our future and continue to make significant investments to support our long-term plans and enrich our customers’ lives.”

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