News

Apple Surpasses $100 Billion In Quarterly Revenue For The First Time

Despite the hit many companies have taken over the past year, Apple’s revenue has surpassed a whopping $100 billion in quarterly revenue for the first time ever.

It might come as a surprise to some of you to read this, but on the surface, Apple appeared to suffer along with the rest of the world in 2020. The pandemic forced some of its physical stores to close, and the iPhone 12 series was released later than intended. However, that doesn’t appear to have had any effect on the conglomerate as a whole.

Apple released earnings for Q1 2021, which cover the final quarter of 2020, and the company and its products performed extremely well. In fact, Apple’s quarterly earnings surpassed $100 billion for the first time in its history. Despite its delayed release and many people trying to save money, it seems people were still very eager to get their hands on the iPhone 12.

Apple’s revenue for the quarter came in at a staggering $111.4 billion, and iPhones accounted for somewhere in the region of $65 billion of that. Another record for Apple as the iPhone’s previous quarterly high was $61.58 billion, a number it achieved back in the first quarter of 2018. The iPhone 12 is flatter than its predecessor and is the first from Apple to feature 5G mobile data.

The success is not down to the iPhone 12 alone. As more people than ever are forced to work from home, and children are being homeschooled, sales of iPads and Macs have also skyrocketed. iPad sales increased by 41% in 2020 compared to the year before, and Mac sales were up by 21% over the same period. AirPods and Apple Watches were clearly popular holiday gifts too. Sales of Apple’s wearable products were up 30% year-on-year.

On the video game front, it’s a mix of good and bad news for Apple. The good news is more people than ever turned to mobile gaming last year. Since there are more than one billion active iPhones out there in the world right now, a lot of that gaming is being done through Apple. However, the lawsuit with Epic over Fortnite continues, and things have gone very quiet on the Apple Arcade front.

Source: Read Full Article