Apple on Wednesday turned in an all-time record for December revenues of $111.4 billion, up 21% year-over-year. This is the first time Apple has ever topped $100 billion in revenues in one quarter. The company also reported all-time record earnings of $28.76 billion, up 29% year-over-year, while earnings-per-share (EPS) clocked in at $1.68, up 35% year-over-year.
Wall Street consensus expected revenues of $103.3 billion with earnings per share of $1.42. Shares of AAPL ended the regular trading session on Wednesday at $142.06, down $1.10 (-0.77%), on strong volume of 128.9 million shares trading hands. The after hours market reacted positively to the results, with shares trading at $142.30, up 0.240 (+0.17%). Investors had been expecting a good quarter and many of Wednesday’s results were already baked into the share price.
“This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide,” Apple CEO Tim Cook said in an uncharacteristically unspecific fluff quote. He added, “We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season. We are also focused on how we can help the communities we’re a part of build back strongly and equitably, through efforts like our Racial Equity and Justice Initiative as well as our multi-year commitment to invest $350 billion throughout the United States.”
“Our December quarter business performance was fueled by double-digit growth in each product category, which drove all-time revenue records in each of our geographic segments and an all-time high for our installed base of active devices,” Apple CFO Luca Maestri said in his own statement. “These results helped us generate record operating cash flow of $38.8 billion. We also returned over $30 billion to shareholders during the quarter as we maintain our target of reaching a net cash neutral position over time.”
Strong iPhone Sales Sales Drove Results
Sales of Apple’s new iPhone products largely drove quarterly results, with $65.60 billion in sales for that category. That’s up from last year’s $55.96 billion in iPhone sales. iPad revenue increased to $8.44 billion, up from $5.98 billion, and Mac revenue rose to $8.68 billion, up from $7.16 billion. Services were also up, with Apple reporting Services revenue of $15.76 billion, up from $12.72 billion.
The company also said that international sales accounted for 64 percent of the quarter’s revenue. The dividend was also set at US$.205 per share. Apple didn’t offer guidance for the March quarter—Apple stopped offering guidance in the first quarter of the pandemic in 2020.
This article has been updated with additional details.