Apple Sales Boom 36% in June Quarter as iPhone Sale Rebound

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Apple posted $81.4 billion in revenue for the June 2021 quarter on better-than-expected iPhone sales, as its services division continued strong growth.

The tech giant’s iPhone sales hit $39.57 billion in the most recent quarter, up 50%, handily beating analyst expectations of $34 billion, per FactSet. Apple CFO Luca Maestri had told analysts in April that the company was expecting a larger-than-usual sequential sales decline because of supply-chain shortages.

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Apple’s services segment, which includes the App Store, Apple Music, iCloud, Apple TV Plus and other products, posted revenue of $17.5 billion, up 33%.

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Apple’s strong sales for the June quarter, the tech giant’s fiscal third quarter 2021, was a record for its FYQ3. The company reported a net profit of $21.74 billion, or earnings per diluted share of $1.30.

On average, Wall Street analysts expected sales of $72.93 billion and EPS of $1.00.

“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,” Tim Cook, Apple’s CEO, said in announcing the results. “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.”

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