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Apple smashes June quarter records with US$21.4B profit on US$81.4B revenue

By Kenny Yeo - on 28 Jul 2021, 10:18am

Apple smashes June quarter records with US$21.4B profit on US$81.4B revenue

Apple has smashed its June quarter records with another blockbuster quarter.

In its latest financial results, Apple said it had revenues of US$81.4 billion and a net quarterly profit of US$21.7 billion.

That means revenue was up an amazing 36% year-over-year. Profit, on the other hand, was up an staggering 92% year-over-year.

These numbers are impressive because the June quarter is typically a slow time for the company. History suggests most people hold back on purchasing new iPhones because new ones are on the way.

Despite this, iPhones alone brought in US$39.6 billion in sales for the company which CEO Tim Cook attributed to a high number of upgraders and users swapping over from an Android device.

Apple's record June quarter was also fuelled by the Services category setting an all-time record of US$17.5 billion. This division consists of the App Store, Apple Music, Apple TV+, Apple Arcade, Apple Pay, and more.

Apple's Wearables and Home category also set new June records after bringing in US$8.8 billion – up 36% from the same period last year.

Mac and iPad sales were also strong. Mac revenues were US$8.2 billion – an increase of 16% from the same quarter last year. iPad sales saw moderate growth of 12% as they took in US$7.4 billion.

Apple is expected to unveil its newest iPhones in late September this year.

Source: Apple

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