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    Facing uncharted waters, Apple reports 54% year-over-year revenue increase

    Apple CEO Tim Cook asserting new merchandise within the firm’s April 20, 2021, livestream.

    Nathan Mattise

    Apple released its Q2 2021 earnings report back to traders at the moment after the bell, and it was one other enormous yr—so enormous, in truth, that traders are involved it is not sustainable because the world enters a brand new, later part of the pandemic.

    Revenue for the quarter was $89.58 billion, a file for the March quarter, and up 54 % year-over-year. The quantity surpassed traders’ and analysts’ predictions and expectations main as much as the report. Gross margin was 42.5 %.

    Apple reported double-digit progress in each product class. Mac and iPad revenue had been up 70.1 % and 78.9 % from final yr ($9.10 billion and $7.8 billion, respectively), and the iPhone was up 65.5 % (to $47.94 billion). Both Apple CEO Tim Cook and analysts have referred to as the iPhone 12 launch a “tremendous cycle,” through which adoption, upgrades, and gross sales are notably sturdy as a result of numerous elements.

    As for providers, that enterprise phase noticed 26.7 % progress year-over-year (to $16.9 billion), with an all-time revenue file of $16.9 billion—up 27 % over a yr in the past. “Other Products,” which most notably contains wearables just like the Apple Watch and AirPods, noticed 24 % progress, reaching $7.83 billion in revenue.

    On a name with traders, Apple govt Tim Cook and others from the corporate fielded questions in regards to the sustainability of this sort of revenue and progress in gentle of a partial transition out of a pandemic lockdown mindset in some areas.

    Analysts and Apple itself have each mentioned that the corporate’s merchandise have thrived amidst the pandemic. For instance, Mac gross sales have gone up partially due to an increase in distant work and college, although the introduction of the M1 chip final fall additionally seemingly performed an element.

    Further, semiconductor provide shortages might threaten the corporate’s skill to satisfy demand in coming quarters.

    The Apple reps acknowledged that it is tough to foretell the place issues will go from right here, and once more declined to offer steering for the following quarter. (They haven’t carried out so for the reason that international pandemic started.)

    Beyond that, Cook spent a lot of his time on the decision both recapping the product and providers bulletins from the corporate’s April 20 occasion, or speaking up Apple’s numerous inexperienced initiatives.

    Apple inventory rose nearly 4 % in after-hours buying and selling following the decision, however has slipped down to only 2 % over the day’s earlier worth as of this writing.

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