Apple is seeing some really big numbers in its Q2 2021 earnings. The company just reported $89.6 billion in revenue, the most ever for a March quarter of any year in their history. It’s largely thanks to a huge uptick in iPhone and Mac sales.
According to Apple, the iPhone saw around $48 million in revenue, an increase of 66 percent over last year at this time. Meanwhile, the Mac saw a 78 percent increase in revenue year-over-year. Even the iPad saw a massive 77 percent increase.
It’s easy to point to the obvious cause of this inflation: COVID-19. The pandemic has forced many people to remain at home to work and go to school, so new devices like Macs and iPads were expected to fly off the shelves (and fly off the shelves they have).
But the iPhone is definitely a point of interest for a lot of people. With these large numbers, it’s become clear the iPhone 12 lineup has proven to be incredibly popular. Various factors could be to blame like the new design, updated cameras, and 5G. Whatever it is, it was enough to convince a ton of people to upgrade, something many analysts suspected going into last year’s iPhone refresh.
The next fiscal quarter’s earnings will be interesting to watch for, as the new iMac and M1-powered iPad Pros will have hit the market. The new purple iPhone 12 could also help give sales a boost, while AirTags will likely help Apple’s accessories division expand even further.
In a statement, Apple CEO Tim Cook said “this quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us.
“Apple is in a period of sweeping innovation across our product lineup, and we’re keeping focus on how we can help our teams and the communities where we work emerge from this pandemic into a better world. That certainly begins with products like the all-new iMac and iPad Pro, but it extends to efforts like the 8 gigawatts of new clean energy we’ll help bring onto the grid and our $430 billion investment in the United States over the next 5 years.”
“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,” said Luca Maestri, Apple’s CFO. “These results allowed us to generate operating cash flow of $24 billion and return nearly $23 billion to shareholders during the quarter. We are confident in our future and continue to make significant investments to support our long-term plans and enrich our customers’ lives.”