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Apple revenue up 54% year-over-year as iPhone sales soar | Pocket Gamer.biz

Apple recorded a revenue of $89.6 billion in its second fiscal quarter for 2021, representing a 54 per cent increase year-over-year.

This was confirmed by the company’s financial results ended March 27th, 2021, where sales of iPhone devices had risen by 66 per cent to $47.9 billion when compared to the previous year.

Apple’s quarterly earning’s per diluted share amounted to $1.40, while its international sales made up 67 per cent of the quarter’s revenue.

Apple’s board of directors authorised an increase of $90 billion to the existing share repurchase programme.

Net profit for the firm grew to $23.6 billion, a jump of approximately 110 per cent from the $11.3 billion earned over the same period in 2020.

Sales in China played a big part too, as the firm looks to take on the largely Android dominated market.

“Better days ahead”

“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,” said Apple CEO Tim Cook.

“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.

Apple chief financial officer Luca Maestri added: “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.”

Apple will be taking all the good news it can take at the minute, with the rollout of iOS 14.5 creating quite a stir. As a result, several German businesses have filed an antitrust complaint against the company.

On top of this, Apple is still in the middle of a lawsuit with Fortnite maker Epic Games over its App Store policies.


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