Apple Reports Over $80 Billion in Revenue for Q3 2021, Over 36% Growth Year-On-Year

tim cook apple earnings call q2 2021

Apple today reported $81.4 billion in revenue for fiscal Q3 2021, covering the period between April 1 and June 26, 2021. Along with the revenue, Apple also posted a profit of $21.7 billion for Q3 2021 and earnings-per-share of $1.30. Q3 revenue for Apple is up by 36% year-on-year.

Apple has surprised its investor once again. After announcing $100 billion in revenue for the first time in Q1 this year, and following up with a strong $90 billion revenue in Q2, Apple has today posted revenue of $81.4 billion and a profit of $21.7 billion for Q3 2021. In comparison to the same quarter last year, Apple has reported an increase of $22 billion in revenue — up from $59.7 billion in Q3 2020 to $81.4 billion in Q3 2021.

Similarly, Apple has reported an increase of over $10 billion in profit as compared to the same quarter last year — $11.25 billion in Q3 2020 to $21.7 in Q3 2021.

“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.

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.” — Tim Cook on Q3 Earnings Call

Apple says that the revenue from Mac and iPad sales continue to surge as people continue to work from home and learn from home. The Mac category performed 1.25x better than the same quarter last year, up from $6.5 billion in Q3 2020 to $8.8 billion in Q3 2021. Apple also reported an increase in iPad sales revenue, up from $6.6 billion to $7.4 billion in Q3 2021.

However, iPhone was again the star of the show. iPhone sales contributed nearly 50% of the $81.4 billion revenue this quarter. Apple is expected to introduce the new iPhone 13 series this quarter — some reports say the September release — and we can expect the company to do even better in the upcoming quarters.