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Apple Breaks Records with $111.4 Billion in Revenue for Q1 2021

Apple has just published its financial results for Q1 2021, with the company posting revenue of $111.4 billion. Apple CEO Tim Cook had this to say about the company’s record-setting quarter:

This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide. We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season. We are also focused on how we can help the communities we’re a part of build back strongly and equitably, through efforts like our Racial Equity and Justice Initiative as well as our multi-year commitment to invest $350 billion throughout the United States.

Estimates and Expectations for Q1 2021

As was the case with Q4 2020, Apple did not provide financial guidance for Q1 2021 during its last earnings call due to the ongoing global pandemic. Nonetheless, reportedly strong iPhone sales and a flurry of new products late last year set high expectations among analysts.

Going into today’s call, Yahoo Finance said that:

The Zacks Consensus Estimate for revenues is currently pegged at $102.61 billion, indicating growth of 11.8% from the year-ago quarter’s reported figure.

Moreover, the consensus mark for earnings is currently pegged at $1.39 per share, unchanged over the past 30 days and indicating 11.2% growth from the figure reported in the year-ago quarter.

Graphical Visualization

After the break, we’ve compiled a graphical visualization of Apple’s Q1 2021 financial results.

Apple Q1 2021 on Twitter

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