Apple reports a quarter of record breaking profits

Apple have announced its record-breaking results for the third quarter (3 month period) ending in June 2021.

For the quarter Apple reported they had a revenue of $81.4 billion, which is up 36% year over year. The net quarterly profit posted was $21.7 billion.

Apple have reported double-digit growth in each of its product categories, with iPhone still the largest category by revenue for Apple bringing in 48.6% of all revenue. Revenue for iPhone was posted at $39.6 billion, which is up 50% year on year.

In recent times Apple has been having a strong push into services by adding new subscriptions such as Apple Music, Apple TV+, Apple Arcade and – with the release of iOS 15 – rebranding its iCloud subscription to iCloud+ which will offer support for more HomeKit Secure Video cameras and iCloud Private Relay. Based on the third-quarter results, services now account for 21.5% of overall revenue for Apple, making it the second-largest revenue category bringing in $17.5 billion, which is an increase of 33% ($16.9 billion last quarter).

Wearables, Home and Accessories is now the third-largest revenue category for Apple, which is 10.8% of all revenue. Bringing in $8.8 billion, which is an increase from $7.8 billion last quarter.

The Mac category was posted with revenue of $8.8 billion, which is down from $9.1 billion last quarter but up from $6.5 billion during quarter three last year.

iPad brought in $7.37 billion of revenue, which is up 12% year on year. iPad is the smallest revenue category for Apple, making up 9.0% of all revenue.

Overall, Apple has posted some incredibly strong quarterly results, beating almost all expectations and showing no signs of slowing down.

Written By

Jake Bywater