BUSINESS Apple reports Q2 results with record revenue

BUSINESS

Apple reports Q2 results with record revenue

Xinhua

08:27, April 29, 2021

SAN FRANCISCO, April 28 (Xinhua) -- Apple on Wednesday announced financial results for its fiscal 2021 second quarter with a March quarter record revenue of 89.6 billion U.S. dollars, up 54 percent year over year.

People walk past an Apple store in New York, the United States, Aug. 2, 2018. (Photo: Xinhua)

The company posted quarterly earnings per diluted share of 1.40 dollars, compared to 0.64 dollar for the same period of fiscal 2020.

Its net income for the quarter ended March 27 increased to 23.63 billion dollars from 11.25 billion dollars a year ago.

"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.

Sales of iPhone amounted to 47.94 billion dollars, up 66 percent from 28.96 billion dollars a year ago.

Its sales of Wearables, Home and Accessories products increased to 7.84 billion dollars from 6.28 billion dollars a year ago.

International sales accounted for 67 percent of the company's quarterly revenue, while Apple's net sales in the Greater China region increased to 17.73 billion dollars from 9.46 billion dollars a year ago, according to Apple's financial statement.

"Apple is in a period of sweeping innovation across our product lineup ... 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 U.S. dollars investment in the United States over the next 5 years," said Tim Cook, Apple's CEO.

"These results allowed us to generate operating cash flow of 24 billion U.S. dollars and return nearly 23 billion U.S. dollars to shareholders during the quarter," Maestri noted.

Apple's Board of Directors has declared a cash dividend of 0.22 dollar per share of the company's common stock. The dividend is payable on May 13, 2021, to shareholders of record as of the close of business on May 10, 2021. The board of directors has also authorized an increase of 90 billion dollars to the existing share repurchase program.

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