Apple turned in another smashing holiday quarter, posting a Wall Street-beating record $123.9 billion in sales for the last three months of 2021
Analyst estimates had pegged Apple revenue at $118.66 billion and EPS of $1.89, according to financial data provider Refinitiv. Shares of Apple popped 3.8% in after-hours trading on the earnings beat.
Apple’s Services revenue for the period rose 24%, to $19.5 billion, also a record, the same growth rate as in. The segment comprises the App Store, Apple Pay, Apple Music, Apple TV Plus, iCloud, AppleCare and other subscription businesses. In the quarter, Apple recorded all-time high revenue for areas including cloud, music, video, advertising and payment services, CFO Luca Maestri said on the earnings call Thursday.
In addition, Apple now has an active installed base of more than 1.8 billion devices worldwide, CEO Tim Cook said on the call. In the September 2021 quarter, supply-chain issues including chip shortages added $6 billion in costs, and Maestri previously said the impact was expected to be even bigger in the year-end 2021 quarter. Execs didn’t provide an estimate of the financial impact for Q1 FY22.
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