Apple announced its first quarter financial results on January 27, US time. Revenue exceeded expectations at 111.4 billion dollars (about 11.62 trillion yen), a record high. However, after the announcement of financial results, the stock price of after-hours trading fell slightly. Investors seemed to have shown little interest in the financial results.
Not only was the revenue huge, but it also exceeded analysts’ expectations for the first quarter results. Apple has exceeded investor expectations in both earnings per share and revenue. Analysts forecast sales of $ 103.3 billion and earnings per share of $ 1.41. In this respect too, Apple recorded $ 1.68, surpassing expectations.
Popular stocks like GameStop and AMC Entertainment, the so-called meme stocks, have shown a rate of increase of over 100%, and the low response this time is expected by the general market to achieve even greater growth and market capitalization for large technology stocks. It shows that you are doing it. Apple’s share price has risen more than 23% since the announcement of its fourth-quarter earnings in October 2020, even though there were no shocking price movements in the earnings announcement.
Apple’s revenue in the first quarter was up 20% year-on-year. Most were in a single region, the Chinese market. Quarterly revenues in the region increased 57% from $ 13.6 billion last year to more than $ 21.3 billion.
In terms of revenue by product category, of course, the iPhone is the king, and sales were 65.6 billion dollars (about 6.84 trillion yen), a significant increase from 56 billion dollars (about 5.84 trillion yen) in the same period of the previous year. The release schedule for the new version of Apple’s iPhone has been delayed a bit this time, so the first quarter includes more sales of the new version than usual.
Not only was the iPhone doing well, but the iPad also outperformed Mac sales. Mac sales were $ 8.7 billion and iPad sales were $ 8.4 billion, a significant increase in this category as well. The wearable and home calling accessories division was $ 13 billion (about 1.35 trillion yen), and the service was $ 15.8 billion (about 1.65 trillion yen), which was also a new record.
We will also follow the contents of the telephone press conference accompanying the announcement of financial results.
Rachel Maga is a technology journalist currently working at Globe Live Media agency. She has been in the Technology Journalism field for over 5 years now. Her life’s biggest milestone is the inside tour of Tesla Industries, which was gifted to her by the legend Elon Musk himself.