The corporate on Wednesday reported revenues of $89.6 billion and a revenue of $23.6 billion for the three months ending March 27, blowing previous analyst forecasts. The corporate additionally licensed a $90 billion share buyback, it mentioned.
Apple shares surged greater than three% after-hours following the report.
“This quarter displays each the enduring methods our merchandise have helped our customers meet this second in their very own lives, in addition to the optimism customers appear to really feel about higher days forward for all of us,” CEO Tim Cook dinner mentioned in an announcement.
“Apple is in a interval of sweeping innovation throughout our product lineup, and we’re retaining deal with how we can assist our groups and the communities the place we work emerge from this pandemic into a greater world,” Cook dinner added.
The corporate recorded double-digit development in every of its product classes, in accordance with CFO Luca Maestri. iPad and Mac gross sales grew 70% and 79%, respectively, as individuals upgraded their work-from-home setups, with Mac gross sales setting a brand new all-time document.
“This quarter reinforces the truth that regardless of the pivot towards providers, Apple stays primarily a hardware-driven firm,” eMarketer analyst Yoram Wurmser mentioned in a notice after the earnings.
Cook dinner mentioned he expects Apple’s sturdy efficiency to proceed even after the economic system totally reopens and firms deliver staff again to workplaces.
“It looks like many firms shall be working in a hybrid type of mode and so it might appear that work-from-home and the productiveness of working from dwelling will stay very essential,” he mentioned. “All in all, we really feel very, excellent.”