Apple reports double-digit sales increases for every product category in Q1 2021 | GeekComparison

A huge ring-shaped building on a green campus.
enlarge / Apple’s global headquarters in Cupertino, California.

The past 24 hours have been awash with stock market news, from normal to crazy. But based on Apple’s performance in recent quarters, the revenue the Cupertino company reported today for the first quarter of 2021 was very much on the normal side. And by that we mean large numbers.

According to the report, Apple crossed the $100 billion threshold in revenue for the first time in a single quarter, posting double-digit revenue increases for each of its defined product categories. Overall, sales were up 21 percent year over year, despite many consumers’ struggles in the pandemic-ravaged economy.

iPhone sales were $65.6 billion, ahead of analysts’ forecasts of $59.8 billion and 17 percent better than the year-ago quarter. This coincides with the introduction of the iPhone 12 series (iPhone 12, iPhone 12 mini, iPhone 12 Pro and iPhone 12 Pro Max), the most significant redesign and upgrade to iPhones since the iPhone X three years earlier.

While the iPhone is Apple’s big item, the growth of that product has actually been modest compared to a few others. iPad sales rose 41 percent year over year to $8.44 billion. This was probably partly caused by the launch of the redesigned iPad Air.

And services — that business segment that Apple executives and investors are always looking for as the obvious growing revenue source — grew 24 percent year over year. This quarter included the launch of Apple Fitness+, but otherwise this growth appears to have been driven by existing services such as Apple Music, Apple TV+ or Apple Arcade.

They didn’t all grow at the same rate, though: An Apple spokesperson, speaking with investors, said AppleCare has grown more slowly than other services because of its reliance on retail stores to deliver its full value to Apple’s customers.

In any event, total service revenue for the quarter was $15.76 billion.

The Mac also rose — 21 percent in this case, to $8.68 billion. (This quarter included the launch of the M1 Macs.) And comprehensive growth for all other products, of which wearables like the Apple Watch and AirPods are a significant part, grew 29 percent year over year to $12.97 billion.

CEO Tim Cook told investors during the call that the total installation base for iPhones has risen to 1 billion, up from the 900 million he said last reported that statistic. The total active install base for all Apple products was 1.65 billion – so yes, the iPhone is still Apple’s dominant product and the product that forms the basis for many of the services and wearables the company has introduced in recent years. .

These positive numbers follow a two-year rally that itself followed investor skepticism about declining iPhone sales.

Apple again declined to provide guidance to investors for the next quarter. The company has not issued guidance for the coming quarters since the start of the COVID-19 pandemic just under a year ago.

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