Apple delivered its largest quarter by revenue of all time on Wednesday at $111.4 billion in its first-quarter earnings report for fiscal 2021. It’s the first time Apple crossed the symbolic $100 billion mark in a single quarter, and sales were up 21% year-over-year.
Apple’s results for the quarter ending in December weren’t just driven by 5G iPhone sales. Sales for every product category rose by double-digit percentage points. Apple’s earnings per share and sales handily beat Wall Street expectations.
Apple CEO Tim Cook said that the results could’ve been even better if not for the Covid-19 pandemic and lockdowns that forced Apple to temporarily shutter some Apple stores around the world.
Apple did $111.44 billion revenue in 3 months.
That’s nearly California’s annual budget.
It’s 2% of the entire US GDP.
— JD Ross (@justindross) January 27, 2021
Apple tops $100 billion in revenue for first time as iPhone, iPad sales surge https://t.co/xiaO8WBIys
— MarketWatch (@MarketWatch) January 27, 2021