Apple

Apple Reports $81.4bn Revenue in new June quarter record

Services revenue reaches new all-time high

Apple today announced financial results for its fiscal 2021 third quarter ended June 26, 2021. The Company posted a June quarter record revenue of $81.4 billion, up 36 percent year over year, and quarterly earnings per diluted share of $1.30.

Apple’s services category, which includes the App Store, Apple Music, Apple Pay, AppleCare, Apple TV+, Apple Arcade, Apple Fitness+, and more, saw another quarter of incredible growth.

Services brought in $17.5 billion during the quarter, up 33 percent from $13.2 billion in the year-ago quarter and up from $16.9 billion last quarter.

Cloud services, ‌Apple Music‌, advertising, video, and payments saw all-time revenue records, while the ‌App Store‌ saw a new June quarter revenue record.

Apple’s Wearables, Home, and Accessories category saw strong growth during the third fiscal quarter of 202, bringing in $8.8 billion, up 36 percent from $6.5 billion in the year-ago quarter. According to Cook, the category set a new all-time June quarter revenue record.

Services brought in $17.5 billion during the quarter, up 33 percent from $13.2 billion in the year-ago quarter and up from $16.9 billion last quarter.

Cloud services, ‌Apple Music‌, advertising, video, and payments saw all-time revenue records, while the ‌App Store‌ saw a new June quarter revenue record.

During the earnings call announcing the results, Apple CFO Luca Maestri said that Apple’s install base of devices hit a new all-time high as well, which helps drive services growth.

Apple now has more than 700 million paid subscriptions, which is up 150 million from last year, and is four times the number of subscriptions that Apple had four years ago.

Paid accounts on digital content stores reached a new all-time high across each geographic segment, and paid accounts increased by double digits.

“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” said Tim Cook, Apple’s CEO.

“We’re continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.”

The important numbers from Apple’s report and what Wall Street was expecting, is as follows:

  • Revenue: $81.4 billion versus $73.8 billion expected
  • Earnings per share: $1.30 versus $1.01 expected
  • iPhone revenue: $39.57 billion versus $34.5 billion expected
  • Services revenue: $17.49 billion versus $16.3 billion expected
  • Mac revenue: $8.24 billion versus $7.99 billion expected
  • iPad revenue: $7.37 billion versus $7.13 billion expected

Apple’s board of directors has declared a cash dividend of $0.22 per share of the Company’s common stock. The dividend is payable on August 12, 2021 to shareholders of record as of the close of business on August 9, 2021.

“Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO.

“We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans.”

Apple will provide live streaming of its Q3 2021 financial results conference call beginning at 2:00 p.m. PT on July 27, 2021 at apple.com/investor/earnings-call. This webcast will also be available for replay for approximately two weeks thereafter.

Apple Q3 2021 Consolidated Financial Statements

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