Apple Smashes Revenue Records With $81.4 Billion in Fiscal Q3 2021
Apple reports massive year-over-year growth for its June quarter, driven by double-digit increases across all product categories and a surging services division.
Apple reports $81.43 billion in revenue for its fiscal Q3 2021, marking a stunning 36 percent increase compared to the same period last year. The tech giant brings in $21.74 billion in profit with earnings-per-share of $1.30, easily surpassing analyst expectations that topped out at $77.15 billion. This impressive financial performance occurs despite the company choosing not to provide official financial guidance due to ongoing COVID-19 uncertainties.
Every single product category contributes to this record-breaking quarter with double-digit growth. The iPhone leads the charge with $39.57 billion in revenue, reflecting a nearly 50 percent year-over-year surge. The services division continues its steady climb by generating $17.49 billion, while Mac, iPad, and Wearables all post solid gains to round out a universally strong product portfolio.
Apple CEO Tim Cook attributes this success to a period of unmatched innovation and the growing importance of technology in connecting people worldwide. CFO Luca Maestri highlights that the company achieves new revenue records across all geographic segments and reaches an all-time high for its active device installed base. During the quarter, Apple generates $21 billion in operating cash flow and returns almost $29 billion to shareholders.