Apple reports its third fiscal quarter results

Apple announced its financial results for its fiscal third quarter of this year (2021). The company reported a whopping $81.4 billion in revenue in just a quarter which is a 36 percent increase compared to the previous year in the same quarter. The third quarter ended on 26 June, 2021 and the company reported $1.30 per diluted share in their quarterly earnings.   

“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 Apple CEO Tim Cook. “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.”

Apple threatens to leave the UK market amid a patent war

Double digit growth across the product categories

The iPhone maker reported double digit growth in all of the product categories it sells. While iPhone sales are always high, Mac sales have been continuing to increase since last year, as demand for work for home equipment does not appear to slow down anytime soon. Also, the company launched new Macs powered by their own home grown silicon which has shook the computer industry at its very core.

M1 chip
M1 chip

“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 Apple CFO Luca Maestri. “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.”

Apple also reported reaching an all new high in the revenue generated from its services business.