Apple has just published its financial results for Q3 2021. The company posted revenue of $81.4 billion. Apple CEO Tim Cook said:
“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” said Tim Cook, Apple’s CEO. “We’re continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.”
Expectations for Q3 2021 and the Year-Ago Quarter (Q3 2020)
Apple didn’t provide guidance for Q3 2021, but going into today’s earnings call, Yahoo Finance reported the following analyst expectations::
Here’s what Wall Street is expecting from Apple, as compiled by Bloomberg, versus how it performed in the same quarter last year.
- Revenue: $73.8 billion expected versus $59.7 billion in Q3 2020
- Earnings per share: $1.01 expected versus $2.58 in Q3 2020
iPhone revenue: $34.5 billion expected versus $26.4 billion in Q3 2020
Services revenue: $16.3 billion expected versus $13.2 billion in Q3 2020
Graphical Visualization
After the break, we’ve compiled a graphical visualization of Apple’s Q3 2021 financial results.
Details and Analysis from Twitter
The second quarter is Apple’s slowest quarter yet this year it was bigger than the holiday quarter of 4 years ago.
— Horace Dediu (@asymco) July 27, 2021
Apple had a YoY increase of 36 percent. That is not a small number!https://t.co/9ps5CIDSDt
— Dieter Bohn (@backlon) July 27, 2021
Analysts: The low estimate was $65.68B, while the high end was $77.15B.”
Apple: Hold my beer…$81.43 billion in revenue, 36% YoY!! 🤑 https://t.co/91arF4R2lr
— Basic Apple Guy (@BasicAppleGuy) July 27, 2021
The last four quarters have been the best ever for Mac thanks to the M1 - clearly why Windows OEMs are not underestimating the appeal #AAPL
— Carolina Milanesi (@caro_milanesi) July 27, 2021
LM: iPad revenue was up 7.4% despite “significant supply constraints.”
— MacJournals.com (@macjournals) July 27, 2021
LM: We have 700M subscriptions across all our offerings, up 150M from a year ago and 4X what it was 4 years ago.
— MacJournals.com (@macjournals) July 27, 2021
LM says these sales have driven the active user base to an all-time record high, which he then declines to provide.
— MacJournals.com (@macjournals) July 27, 2021
700 million paid subscriptions is +40 million. Same increase as last quarter. $AAPL
— Walter Piecyk (@WaltLightShed) July 27, 2021
Apple’s $AAPL historic FYQ3 earnings since 2005
2005: $3.5B
2006: $4.4B
2007: $5.4B
2008: $7.5B
2009: $9.7B
2010: $15.7B
2011: $28.6B
2012: $35B
2013: $35.3B
2014: $37.4B
2015: $49.6B
2016: $42.4B
2017: $45.5B
2018: $53.3B
2019: $53.8B
2020: $59.7B
2021 $81.4B— Bullish Rippers (@BullishRippers) July 27, 2021
Apple revenue in Greater China up a very strong 58%. That’s the strongest revenue growth out of any reporting segment. The Apple ecosystem continues to gain momentum in China.
— Neil Cybart (@neilcybart) July 27, 2021
Basically, the iPhone 12 is the iPhone that won’t stop selling. Wonder how much the crazy carrier discounts played into this quarter’s success. https://t.co/LVwHcjngNW
— Joanna Stern (@JoannaStern) July 27, 2021
Sequentially, iPhone revenues were down 17%, iPad down 6% despite new iPad Pro models, Mac down 10%, but services up 3% and Wearables/Home/Accessories up 12%.
Year-over-year, iPhone revenues were up 50% (!), iPad up 12%, Mac up 16%, W/H/A up 36%, Services up 33%.
— MacJournals.com (@macjournals) July 27, 2021
After Apple sucked in all the money in the universe for three quarters in a row, investors remain skeptical.
— Horace Dediu (@asymco) July 27, 2021
Another “wow” from $AAPL. https://t.co/coO5CkHVAY
— Matt Rosoff (@MattRosoff) July 27, 2021
CNBC: iPhone $39.57B. Services $17.5B. Mac $8.24B. iPad $7.4B. Wearables Home & Accessories $8.8B.
— MacJournals.com (@macjournals) July 27, 2021
CNBC: Apple EPS $1.30; Revenue $81.4B, up 36%. Margins 43.3%. iPhone
— MacJournals.com (@macjournals) July 27, 2021
