Apple Reports Nearly $90 Billion in Revenue for Q2 2021, Over 50% Growth Year-On-Year

BY Sanuj Bhatia

Published 28 Apr 2021

tim cook apple earnings call q2 2021

Apple today reported $89.6 billion in revenue for fiscal Q2 2021, covering the period between January 1 and March 31, 2021. Along with the hefty revenue, Apple also posted a profit of $23.6 billion for Q2 2021. This is a 54% growth in revenue and almost 110% growth in profit year-on-year.

Apple has held its flag high. After reporting $100 billion in revenue for the first time in Q1 2021, the company today posted revenue of $89.6 billion and a profit of $23.6 billion for Q2 2021. In comparison to the same quarter of 2020, Apple’s revenue is up from $58.3 billion to $89.6 billion, and the profit is up from $11.2 billion to $$23.6 billion.

Apple says that the revenue from Mac and Services have hit new all-time records for quarterly revenue. Apple generally provides guidance for its quarterly results giving investors an idea of the figure it might achieve. But, this time Apple did not provide any guidance due to the uncertainties caused by the COVID-19 pandemic.

Other Apple analysts believed the result would hover around $77 billion, but Apple has once again crushed the estimates.

““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.”

The gross margin for the quarter was 42.5 percent, compared to 38.4 percent in the year-ago quarter. Apple also declared an increased dividend payment of $0.22 per share, up from $0.205 per share.

This is a breakdown of Apple’s Q2 2021 report in numbers, to see how much each category contributed towards the $89.6 billion revenue:

  • $47.93 billion: iPhone (53.5%)
  • $16.93 billion: Services (18.9%)
  • $9.14 billion: Mac (10.2%)
  • $7.79 billion: Wearables, Home, and Accessories (8.7%)
  • $7.79 billion: iPad (8.7%)

Apple says that the Mac and Services revenue is at an all-time high. Mac sales went up by 2.2%, thanks to the introduction of next-gen MacBooks. Apple recently unveiled its new iMac with an M1 chip, which is further expected to drive up this sales figure.

Services sector continues to enjoy its regular increase, with it having a growth of over 25% year-on-year. Services like Apple Fitness+ and Apple One have a great contribution to these increased numbers. Apple recently unveiled its new Podcast subscription service which is further expected to drive up sales.

[Via Apple]