Apple Profit Soars, Revenue Tops $100 Bn For First Time
Mohammad Ali (@ChaudhryMAli88) Published January 28, 2021 | 09:00 AM
San Francisco, (UrduPoint / Pakistan Point News - 28th Jan, 2021 ) :Apple said Wednesday that profits surged in the final three months of the year on growing sales of iPhones and services, which lifted revenues to an all-time record.
Profit in the period ended December 26 rose 29 percent from a year ago to $28.7 billion, while revenues grew 21 percent to $111.4 billion, with international sales accounting for nearly two-thirds of sales.
Sales topped the $100 billion mark for the first time as Apple won over pandemic-hit consumers with new gadgets and services.
"We're gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season," chief executive Tim Cook said.
Apple said iPhone sales accounted for nearly $66 billion, leading all other products and growing some 18 percent.
But the tech giant also saw strong growth in wearables, including its Apple Watch, delivering $12.9 billion in sales for that category in the company's fiscal first quarter.
Services accounted for $15.7 billion as Apple grew sales of music, digital content, cloud computing and subscriptions.
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