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$AAPL Apple earnings

Apple (AAPL) Earnings

Apple (AAPL), posted fiscal Q1 sales of $123.95 billion, up from its prior quarterly revenue record of $111.44 billion achieved the previous year. It is the first time AAPL has surpassed $30 billion in earnings for a three-month period.

Earnings per share (EPS) came up to $2.10 beating the estimates of $1.68 to $1.89, up 25% year-over-year

Earnings reported at $34.63 billion, up from $28.76 billion, in the same quarter, last year.  Wall Street expectations were for $119 billion in revenue.

The company hit a record $378.35 billion in revenue for 2021, up from $294.1 billion in 2020.

Services revenue reported at $19.52 billion topping the expectations of $18.61 billion up 24% (yoy).

iPhone segment posted a revenue record for the Q1, with sales of $71.63 billion for the quarter ended in December, up from $65.6 billion a year earlier. Forecasts were for $67.57 billion in iPhone revenue.

Mac segment revenue reported at $10.85 billion above the $8.68 billion it recorded the previous year, beating the analyst’s expectations of $9.88 billion.

The Mac segment has been a big pandemic winner as people stock up on devices to work and study from home, but the iPad business, another hot pandemic category, didn’t have as strong of a showing in the December quarter. Apple reported $7.25 billion in iPad revenue, lower than the $8.44 billion it posted a year earlier and the consensus analyst estimate of $8.19 billion.

Apple generated $14.7 billion in revenue from its wearables, home and accessories category, up from $12.97 billion a year before. Analysts were expecting $14.36 billion. The services segment brought in revenue of $19.52 billion, up from $15.76 billion a year before, while analysts were looking for $18.67 billion.

Read the latest Apple stock price targets and AAPL stock upgrades and downgrades.

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