Apple Q3 2021 Results - $81.4 Billion Revenue

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

https://twitter.com/backlon/status/1420136007681265665?s=21

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

https://twitter.com/mattrosoff/status/1420119540323790848?s=21

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