Enlarge / Apple’s global headquarters in Cupertino, California. (credit: Sam Hall/Bloomberg via Getty Images)
The last 24 hours have overflowed with stock market news, from the normal to the nutty, but based on Apple’s performance in recent quarters, the earnings the Cupertino company reported today for its first quarter of 2021 were very much on the normal side. And by that, we mean big numbers yet again.
According to the report, Apple crossed the threshold for $100 billion in revenue in a single quarter for the first time, and the company posted double-digit sales increases for every single one of its defined product categories. Overall, sales were up 21 percent year-over-year, despite many consumers’ struggles in the pandemic-stricken economy.
iPhone revenue was $65.6 billion, surpassing analysts’ expected $59.8 billion, and beating the same quarter last year by 17 percent. This coincides with the introduction of the iPhone 12 lineup (iPhone 12, iPhone 12 mini, iPhone 12 Pro, and iPhone 12 Pro Max), which was the most substantial redesign and upgrade to iPhones since the iPhone X three years earlier.
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