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Apple reports a 47% hike in iPhone sales for the fiscal fourth quarter

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Apple reports a 47% hike in iPhone sales for the fiscal fourth quarter
Apple has announced a record fiscal fourth-quarter covering the three months that ended on September 25th. During the quarter, Apple generated iPhone sales of $38.87 billion which was a 47.01% gain year-over-year. During the fiscal fourth quarter of 2020, handset sales amounted to $26.44 billion.

Apple sold nearly $192 billion worth of iPhone handsets during fiscal year 2021


For the entire fiscal year of 2021, iPhone sales amounted to $191.97 billion, up from $137.78 billion for fiscal 2020, a 39.33% annual increase. Apple released the iPhone 13 series on September 24th.

Apple announced that iPad sales continue to grow. For the last quarter of fiscal 2021, tablet sales hit $8.25 billion up 21.32% from the $6.80 billion that was rung up during the same quarter of 2020. For the entire year, Apple's iPad sales amounted to $31.86 billion from $23.72 billion the previous year. That works out to a 34.32% gain in tablet sales year-over-year.
 
The Services segment, which includes the App Store, Apple Pay, Apple Arcade, Apple TV+, Apple Music, Apple Care, iCloud storage subscriptions, and more, took in $18.28 billion in revenue compared to $14.55  billion during the same quarter last year. That works out to a 25.64% annual gain.

Luca Maestri, Apple’s CFO, said "Our record September quarter results capped off a remarkable fiscal year of strong double-digit growth, during which we set new revenue records in all of our geographic segments and product categories in spite of continued uncertainty in the macro environment. The combination of our record sales performance, unmatched customer loyalty, and strength of our ecosystem drove our active installed base of devices to a new all-time high."

Remember when Apple was dying to reach $50 billion in Services revenue over a fiscal year? For fiscal 2021, the company announced gross of $68.43 billion for that business unit. That is a gain of 27.26% for the year as last year's top line came in at $53.77 billion.

The Wearables, Home, and Accessories unit includes some hot selling products like the Apple Watch and the AirPods. Revenue for this division during the fiscal fourth quarter amounted to $8.79 billion compared to the $7.88 billion Apple garnered during the 2020 quarter. For the fiscal year, Wearables, Home, and Accessories brought in $38.37 billion compared to $30.62 billion for fiscal 2020 (a 27.27% hike).

Thanks to restrictions against Huawei, Apple saw its business in China soar over 83% during the fiscal fourth quarter


Apple saw business increase in China where revenue hit $14.56 billion for the period. That was an 83.14% gain on a quarterly basis as Huawei's threat was neutralized by U.S. restrictions. For fiscal 2021, sales in the country rose from $40.31 billion to $68.37 billion. Apple saw increases for the fiscal quarter in all of its reportable segments which besides China include the Americas, Europe, Japan, and the Rest of the Asian Pacific region.

Apple CEO Tim Cook said, "This year we launched our most powerful products ever, from M1-powered Macs to an iPhone 13 lineup that is setting a new standard for performance and
empowering our customers to create and connect in new ways. We are infusing our values into everything we make — moving closer to our 2030 goal of being carbon neutral up and down our supply chain and across the lifecycle of our products, and ever advancing our mission to build a more equitable future."

Overall, Apple had revenue of $83.36 billion for the fiscal fourth quarter, a 29% gain on an annual basis. For the full fiscal year, Apple took in $297.39 billion, up 34.72% year-over-year. Net income was $20.55 billion during the fiscal fourth quarter, up 62.19% from the same quarter last year. For all of fiscal 2021, Apple had net income of $94.68 billion, an impressive gain of 64.92%

Earnings per share for the quarter rose from 74 cents to $1.25. For the year, EPS came in at $5.67 from the $3.31 reported for fiscal 2020.

Despite the strong report, after-hours Apple's shares lost more than they gained during the regular trading session. During the latter, Apple's stock rose $3.72 (2.5%) to $152.57. After the report came out, the stock declined $5.57 (3.65%) to $147.

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