Apple smashed Wall Street expectations for the first three months of 2021, reporting its highest-ever revenue for a March quarter and biggest-ever quarterly haul for the Services business.
The company posted revenue of $89.6 billion, up 54% on a surge of iPhone sales, for the quarter ended March 27. Net income more than doubled (up 110%) to $23.6 billion, translating into earnings per diluted share of $1.40.
Apple boasted revenue records in each of its geographic segments and double-digit growth in each product category — with the recently launched 5G-enabled iPhone 12 driving up sales of the company’s smartphone devices nearly 66%, to $47.9 billion.
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.@Apple CFO Luca Maestri said the company added 40M net paid subscriptions in the March 2021 quarter, to reach 660 million total across its family of paid services (up 28% from a year ago) which includes Apple Music & @AppleTVPlus https://t.co/TYj0lTgVS0
— Todd Spangler (@xpangler) April 28, 2021