Apple Achieves Record Revenue - Tops Forecasts
January 28, 2021
Revenue up 21 percent and EPS up 35 percent to new all-time records
Apple's EPS was $1.68 with only $1.41 expected. On revenue, Apple's $111.44 billion record number, bested the $103.28 billion consensus estimate.
iPhone revenue was reported at $65.60 billion with $59.80 billion estimated. Services revenue was clocked at $15.76 billion against the $14.80 billion estimate.
“This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide,” said Tim Cook, Apple’s CEO. “We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season. We are also focused on how we can help the communities we’re a part of build back strongly and equitably, through efforts like our Racial Equity and Justice Initiative as well as our multi-year commitment to invest $350 billion throughout the United States.”
“Our December quarter business performance was fueled by double-digit growth in each product category, which drove all-time revenue records in each of our geographic segments and an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “These results helped us generate record operating cash flow of $38.8 billion. We also returned over $30 billion to shareholders during the quarter as we maintain our target of reaching a net cash neutral position over time.”
Apple’s Board of Directors has declared a cash dividend of $0.205 per share of the Company’s common stock. The dividend is payable on February 11, 2021 to shareholders of record as of the close of business on February 8, 2021.