Apple hits all-time record revenue, iPhone turns out to be a ‘hit’

According to the release by Apple, the tech giant hosted its record revenue of $111.4 billion, up to 21% over the last year. Coincidentally, it is the first time that Apple has broken the $100 billion mark in a quarter.

The iPhone, the device which is at the center of the growth contributed to the majority of sales. With sales of $65.5 billion which is up from the $56 billion sales in the same quarter of 2020. This equates to a growth of 17%. All due records and numbers are without a doubt because the iPhone 12 was a big hit.

Tim Cook, the CEO said the company is focusing on helping communities build through efforts like the Racial Equity and Justice Initiative as well as the multi-year commitment to invest $350 billion throughout the US.

Although the complete magic didn’t revolve completely around the iPhones. The Mac devices saw sales of $8.7 billion and the iPad’s revenue was $8.4 billion. The accessories such as wearables, home, Watch, AirPods, HomePods and others contributed to $12.9 billion and the services constituted $15.7 billion.

The CFO of the company, Luca Maestri, said that these results have helped generate an operating cash flow of $38.8 billion. They also returned a humongous $30 billion to the shareholders during the quarter.