Apple Posts Record Q1 Revenue, Topping $111 Billion

Apple Jan. 27 reported record quarterly revenue for its services segment, which includes sales of movies and TV shows on iTunes, the App Store, Mac App Store, Apple Music, Apple Pay, Apple TV+, Apple Arcade and Apple News+, among others. The segment generated $15.8 billion in revenue for the first quarter, ended Dec. 26, 2020, compared with $12.7 billion in the previous-year period.

When factoring in more than $95 billion in product revenue, Menlo Park, Calif.-based Apple generated record $111 billion in revenue, up 21% from revenue of $91.8 million in the previous-year period.

Apple saw green throughout its product categories, with iPhone sales up 17% to $65 billion; Mac sales up 21% to $8.7 billion; iPad revenue up 40% to $8.4 billion; wearables (Apple Watch) up 29.5% to $15.8 billion.

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“We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season,” CEO Tim Cook said in a statement.


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