Apple Hits All-Time High Revenue in December Quarter

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Apple Hits All-Time High Revenue in December Quarter

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 Apple Hits All-Time High Revenue in December Quarter

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Summary

  • Apple witnessed double-digit growth in each product category during December quarter.
  • Quarterly revenue exceeded USD 100 million for the first time.   

US-based technology company Apple Inc. (NASDAQ:AAPL) has unveiled a record performance for the last quarter of 2020. The Company registered all-time record revenue for the three-month period ended 26 December 2020, thanks to high demand for its iPhone, wearables, and services.

Revenue stood at USD 111.4 billion, representing an increase of 21% when compared with the same period a year ago. International sales contributed 64% to the December quarter revenue.

Additionally, Apple reported quarterly earnings per diluted share of USD 1.68, an increase of 35% year-on-year.

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Historic Holiday Season – Says Tim Cook

While declaring a robust quarter amid perhaps the most challenging time for the US, Apple CEO Tim Cook has acknowledged all the team members' efforts across the world. He also talked about the Company’s multi-year commitment towards investment of USD 350 billion across the US.

December quarter witnessed double-digit growth in all product categories, highlighted Apple CFO Luca Maestri. Consequently, Apple's geographic segments reported all-time high record revenues with an all-time high for the installed base of active devices. 

The outstanding performance resulted in the record operating cash flow of USD 38.8 billion. The Company returned more than USD 30 billion to its shareholders during the quarter.

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The cash dividend declared by the company's Board of Directors stood at USD 0.205 per share of Apple's common stock. It is scheduled for payment on 11 February 2021.

The most recent offerings from the Company were in October 2020 comprising the new iPhone 12 Pro, iPhone 12 Pro Max, iPhone 12 mini, and iPhone 12.

Also read: Tech giants report earnings: How did Apple & Tesla fare

Apple Employees Distribute Masks During Pandemic

Apple employees repurposed bow ties and old parade costumes to make 14,000 face masks, which were distributed to frontline workers, hospitals, and convalescent homes across the Metro Detroit area. It was a joint effort by the company's employees, their colleagues and friends.

The Biggest Year for Apple's Giving Programme: Thousands of the company's employees are contributing to communities through their efforts and money. Their efforts have made Apple's Giving programme more meaningful this year. For employees' every hour and dollar donation to any small and large organisation, Apple compares it to a monetary donation to the same organisation.

The program was initiated in 2011, and since then, the company has raised nearly USD 600 million through its employees' significant contributions.

Good read: Tech Titans Shine Despite Pandemic, Post Excellent Quarterly Results

On 27 January 2021, Apple closed the day's trading at USD 142.06, down by 0.77%.

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