Apple earnings: iPhone sales up 50%, Profits nearly double


27, 2021

Apple has released its FY Q3 2021 earnings report, and the company appears to have defied gravity with record-breaking results, particularly when it comes to phone sales.

All segments ( iPhone, Mac, iPad, services, and wearables/home/accessories) were up, but it was iPhone sales which was the real star, with iPhone revenue up 50% YoY to $39.6 billion, boosting overall Apple revenue to $81.4 billion.

The results suggest the iPhone 12 was a big hit, and Apple earnings have been completely unaffected by the global pandemic.

Apple services (such as iCloud) was also up 33% to $17.5 billion, while “wearables, home and accessories” (think Apple Watch, HomePod and AirTags) grew 36% to $8.8 billion in revenue.

Mac and iPad sales were also up 16% and 12% respectively to $8.2 billion and $7.4 billion.

Overall quarterly revenue was up 36 percent year-over-year, and profits nearly doubled to $21.7 billion, up 93 percent YoY.

Apple’s share price was down 2% in after-hours trading on the news.

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