Apple Breaks Previous Records and Makes 111.4 Billion Dollars in its Quarterly Revenue

Even though Apple was a month late in issuing its new iPhone range than its normal time due to the delay in manufacturing because of the ongoing Pandemic, people still had huge hopes from the new iPhone 12 line up and many suspected it would bring big changes in the company’s finances and they were not disappointed.

While Wall Street estimated the earned revenue to be 103 billion dollars on average but things turned out different. The new iPhone 12 line up was introduced in October and since then in its first quarter which spanned from October to December Apple has managed to earn a revenue of 111.4 billion dollars which marked 20 percent more growth year over year and the highest for the company to ever record. The earnings per revenue is 1.68 dollars while Wall Street estimated it being only 1.41 dollars.

In all fairness though, all the products introduced by Apple have doubled over this quarter and things look good for the company. The demand for 5G phones pent up and sales in the Greater China Region rose up to 21.3 billion dollars compared to the 13.6 billion dollars quarterly every year on average. The sale for iPads reached 8.4 billion dollars compared to the 6 billion dollars the company made this time last year. Mac growth was fairly great and the company reported an increase of 8.68 billion dollars of revenue in its computers. Even though iPhone 12 and 12 pro brought the most expansion in revenue there is no denying that the previous iPhones sale was stronger than expected last year that is 2020 and the company reported 65.6 billion in iPhone revenue alone in the past three months which is the highest for Apple’s smartphone and what the company has been pulling in the previous few years. Revenue in Apple’s services business also shot through the roof making 15.8 billion dollars than the regular 12.7 billion this time last year. The Apple wearables revenue reached 12.97 billion dollars while analyst had expected a reach of 11.84 billion dollars only.

Apple has showed a rather impressive performance with the introduction of its iPhone 12 and 12 pro line up as well as the increase in the revenue of the formerly existing products. Apple must be soaring in the clouds with all the increase in revenue and the profits. This year looks good for Apple but the question is will they be able to maintain this consistency with all their coming manufacturing and products or is this a one-time thing.

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