Business & Investment

Apple earned $ 111 billion in just three months and set a sales record

Apple made $ 111 billion in just three months and set a new sales record. Technology giants have helped as demand for the iPhone shatters expectations.

Apple unveiled record sales of over $ 110 billion last night after demand for the new iPhone shattered expectations.

In a staggering series of results, US giants saw sales increase from £ 67.1bn to £ 81.5bn ($ 111.4bn) and profits from £ 16.3bn to £ 21bn in the last three months of 2020. Said that it increased to.

This jackpot is the first time Apple has surpassed $ 100 billion in quarterly sales, and its numbers exceed even Wall Street’s most optimistic forecasts.

Apple, led by Tim Cook (pictured), saw sales increase from £ 67.1 billion to £ 81.5 billion ($ 111.4 billion) and profits increase from £ 16.3 billion to £ 21 billion in the last three months of 2020. He said he did.

And it came after fellow tech giants Facebook and Tesla posted an update for the same period just minutes ago.

Social networking giant Facebook said the pandemic transition to e-commerce boosted demand for online advertising, generating £ 20.5 billion in revenue and electric car maker Tesla earned £ 7.9 billion. ..

Apple’s sales covering the critical Christmas period were boosted by strong demand for the new 5G-enabled iPhone 12, as well as online subscription services such as Mac computers and Apple Music.

CEO Tim Cook (taken on iPhone 12) said: “We are pleased with the enthusiastic customer reaction to our unrivaled state-of-the-art product line offered during the historic holiday season.

“December quarter results were supported by double-digit growth in each product category.”

In particular, iPhone sales were up 17% to £ 48 billion, boosted by the release of new models.

Mac computer sales also increased 21% and iPad increased 30%. Revenue from the service increased by 24% to £ 11.5 billion.

Just hours before Apple’s results, rival Microsoft also saw a significant increase in sales, boosted by demand for cloud computer services.

In contrast to many traditional businesses, tech companies have benefited from the surge in demand for gadgets and digital services as people spend more time relaxing and working indoors during a pandemic. I did.

Apple’s numbers last night came after announcing in the first quarter of the fiscal year that sales for the year to September 26 increased 3.2% to £ 200.7 billion.

Facebook’s fourth-quarter results yesterday mean that full-year sales increased from £ 50.9 billion to £ 62.8 billion and profits jumped from £ 13.5 billion to £ 21.3 billion. Most of that revenue came from advertising, up 21% to £ 61.5 billion.

According to the company, the number of people who use social networks at least once a month has increased by 12% to 2.8 billion.

The company’s boss, Mark Zuckerberg, said:

In the last three months of 2020, Tesla’s full-year sales increased from £ 18 billion to £ 23.1 billion.

Electric vehicle manufacturers reported annual profits of £ 26m to £ 527m in 2019. This was still in the red in the first half.

However, Tesla managed to record a profitable final quarter, but missed Wall Street’s forecast of around £ 790m and instead recorded £ 197m, after-hours trading. Dropped stocks by almost 5%.

The company’s stock has risen about 700% over the past year, with a valuation of over £ 600bn, making it the fifth most valuable company in the United States.

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Apple earned $ 111 billion in just three months and set a sales record

https://www.dailymail.co.uk/money/markets/article-9194851/Apple-dials-sales-record-makes-111bn-just-three-months.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Apple earned $ 111 billion in just three months and set a sales record

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