Apple’s Q2 2021 Results
Apple (Hacker News):
The Company posted a March quarter record revenue of $89.6 billion, up 54 percent year over year, and quarterly earnings per diluted share of $1.40.
[…]
“We are proud of our March quarter performance, which included revenue records in each of our geographic segments and strong double-digit growth in each of our product categories, driving our installed base of active devices to an all-time high,” said Luca Maestri, Apple’s CFO.
It’s Apple’s best non-holiday quarter ever, with all its major product categories way up versus the year-ago quarter.
Mac revenue was $9.1B, up 70% versus last year’s second quarter, and seems to be an all-time record for the Mac. iPad revenue was $7.8B, up 79% versus the year-ago quarter. iPhone revenue, which is typically pretty sleepy in the fiscal second quarter, was up 66% to $47.9B.
The flashy new revenue lines, Services and Wearables, turned in (relatively) modest jumps: Services made $16.9B, up 27%, and Wearables made $7.8B, up 25%.
Gross margin for the quarter was 42.5 percent, compared to 38.4 percent in the year-ago quarter, with international sales accounting for 67 percent of revenue. Apple
Apple saw all-time revenue records for the App Store, cloud services, apple Music, payments services, and more. Apple TV+, Apple Arcade, Apple Fitness+, Apple News+, Apple Card, and Apple One are all “continuing to scale across users” and are contributing to overall growth.
Apple saw 40 million paid subscriptions added during the quarter, reaching a total of 660 million paid subscriptions across all services, which is up 145 million from the year-ago quarter.
Previously:
Update (2021-05-05): Michael E. Cohen and Josh Centers:
That said, Apple is on perhaps the firmest footing it has ever been on. The iPhone, iPad, and Mac are more popular than ever. The risky switch from Intel processors to Apple’s own M1 chip in the Mac has been nothing short of a smashing success, both critically and commercially. And Apple’s Services business seems to have unlimited room for growth. So, while Apple may not exceed these results next quarter—Cook noted that Apple would be “supply-gated, not demand-gated” in the coming quarter, having burned through much of its material reserves to counter supply constraints in Q2—the demand for Apple goods and services seems only to be accelerating, a prospect even sweeter than one of Ted Lasso’s famous biscuits.
