The corporate on Wednesday reported revenues of $89.6 billion and a revenue of $23.6 billion for the three months ending March 27, blowing previous analyst forecasts. The corporate additionally licensed a $90 billion share buyback, it mentioned.
Apple shares surged greater than 3% after-hours following the report.
“This quarter displays each the enduring methods our merchandise have helped our customers meet this second in their very own lives, in addition to the optimism shoppers appear to really feel about higher days forward for all of us,” CEO Tim Prepare dinner mentioned in an announcement.
“Apple is in a interval of sweeping innovation throughout our product lineup, and we’re maintaining deal with how we might help our groups and the communities the place we work emerge from this pandemic into a greater world,” Prepare dinner added.
The corporate recorded double-digit development in every of its product classes, in line with CFO Luca Maestri. iPad and Mac gross sales grew 70% and 79%, respectively, as folks upgraded their work-from-home setups, with Mac gross sales setting a brand new all-time file.
“This quarter reinforces the truth that regardless of the pivot towards companies, Apple stays primarily a hardware-driven firm,” eMarketer analyst Yoram Wurmser mentioned in a observe after the earnings.
Prepare dinner mentioned he expects Apple’s sturdy efficiency to proceed even after the financial system totally reopens and corporations convey staff again to places of work.
“It looks as if many corporations might be working in a hybrid form of mode and so it could appear that work-from-home and the productiveness of working from house will stay very vital,” he mentioned. “All in all, we really feel very, superb.”